EXACT REPUBLISHING OF THIS TRADE ENTRY FROM LAST WEEK.
CLOSE enough to exit.
I'm tempted to go short against the resistance but will publish that if it sets up.
EMC is rallying back into the level where it reported weak earnings .
So, this is just a reflex rally back to supply from an oversold level.
CLOSE enough to exit.
I'm tempted to go short against the resistance but will publish that if it sets up.
EMC is rallying back into the level where it reported weak earnings .
So, this is just a reflex rally back to supply from an oversold level.
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timwest
Now I'm very tempted to go short EMC now that everything seems a little weaker - GE, SPY, T...
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DavideG
timwest
I agree. I like it much better here now that it has broken it's RSI support and still faces the same gap resistance.
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DavideG
Congrats Tim on a great series of trades this week! Certainly agree on waiting for a potential short, break out of TL could lead to more upside.
+1
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timwest
I will wait until a daily range is smaller than today's. Today is currently a "range expansion" day, which is bullish. But I don't want to hang on for further upside. I'd rather just wait for it to settle down and then short it.
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