- Price testing the channel resistance.
- Don't get fooled by bounce overnight/tomorrow, as the rejection at 4145 would turn this into a I H&S setup, with support way below at 407.
Not saying it will happen, but brace for it as this may not be another BTFD opportunity.
- Likely we see ramp into 4140 zone and go lower to 4100 tomorrow.
Disclaimer: Against my good judgement, I am long in $FB and $ROKU (Which seems like a bust at this point), but I am still bearish-neutral into the open tomorrow. Open above 4150 invalidates this thesis
- Don't get fooled by bounce overnight/tomorrow, as the rejection at 4145 would turn this into a I H&S setup, with support way below at 407.
Not saying it will happen, but brace for it as this may not be another BTFD opportunity.
- Likely we see ramp into 4140 zone and go lower to 4100 tomorrow.
Disclaimer: Against my good judgement, I am long in $FB and $ROKU (Which seems like a bust at this point), but I am still bearish-neutral into the open tomorrow. Open above 4150 invalidates this thesis
Trade closed: stop reached:
How about that BTFD. I was wrong, but didn't stay wrong. Most of the growth names ripped today. We are above 4150 and longs are in control. Fun begins.