Markets have been selling hard recently. Done well with shorts but starting to feel it's a bit too easy.
Would be much more comfortable shorting into a rally.
This may or may not come, but at this point we can prep to trade momentum setups long if the bear move fails and then plan the retracement trade.
Would be much more comfortable shorting into a rally.
This may or may not come, but at this point we can prep to trade momentum setups long if the bear move fails and then plan the retracement trade.
Trade active:
Bought some EoW calls for close to double top.
Wouldnbe very profitable if the rally comes and also make it free for me to bet on the short (House money).
Wouldnbe very profitable if the rally comes and also make it free for me to bet on the short (House money).
Comment:
Would buy some more calls into one more spike low and then probably quit after that.
Getting increasingly bullish short term. I think this could well be a bear break but if it is, we'll usually kick out the chasers first.
Would love to try a short near a double top.
Progressively locking in profits on my broad short portfolio as we drop.
Getting increasingly bullish short term. I think this could well be a bear break but if it is, we'll usually kick out the chasers first.
Would love to try a short near a double top.
Progressively locking in profits on my broad short portfolio as we drop.
Comment:
Isn't currently going as I'd expect. Maybe the bounce setup will fail and we just sell through.
Would be strongly bearish if that happened. We'll see. It really come down to if the low is already in / made in the next false breakout.
If we break next level of supports this might be something happening on a bigger timeframe and trying to be cute with small chart patterns won't work.
Since the uptrends have been so aggressive, it really makes sense to think about bull setups into drops but it's best to do this in narrow zones of support.
Everyone is conditioned to expect bull things (Me too) but if a legit reversal is made it can just slam day after day.
Would be strongly bearish if that happened. We'll see. It really come down to if the low is already in / made in the next false breakout.
If we break next level of supports this might be something happening on a bigger timeframe and trying to be cute with small chart patterns won't work.
Since the uptrends have been so aggressive, it really makes sense to think about bull setups into drops but it's best to do this in narrow zones of support.
Everyone is conditioned to expect bull things (Me too) but if a legit reversal is made it can just slam day after day.
Just saying I'd be happier shorting a face rip and am cautious of it now.