As volatility is really low we may get a downmove during the next week (28th-2nd of November). When you look at similar occasion during the past 3 years (ATR% Pannel/Green Line), we had a declining market in 6/7 times.
You can also look at the vix:vxv ratio for the US market which is at 0,8 at the moment. At this level gains are usually given back or we have a choppy sideways range.
So with a break of the range (75x-600)the "textbook" target would be around 104xx.When target is reached, scale out 2/3 and let the winner run.
You should only enter the trade via a range breakout so you dont get trapped, in case we have another upmove.
You can also look at the vix:vxv ratio for the US market which is at 0,8 at the moment. At this level gains are usually given back or we have a choppy sideways range.
So with a break of the range (75x-600)the "textbook" target would be around 104xx.When target is reached, scale out 2/3 and let the winner run.
You should only enter the trade via a range breakout so you dont get trapped, in case we have another upmove.
Trade active:
Short was entered via ORB at 653
Trade active:
1st Target reached. 2/3 is traded out. Rest is set to 550 as a SL.
Trade closed manually:
Trade closed due to the Italian constitutional referendum on the weekend. Target was reached.