Nasdaq closed below 8 EMA first time since 16th of May. this time it feels different, because I noticed sector rotation. Money outflow from risky sectors like biotech, technology, social media, high-beta and 3d printing stocks. The key question is if buyers will manage to defend this low or maybe we will see deeper pullback. If sellers want to control price, they sohuld defend $3870-3882 area. $3841 was low, if price will go through then we can see 21 EMA at 3824.
Comments
vlad.adrian
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What about that breakout trade you were so confident about?
andrew.berg
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But it was good, isn't it??
andrew.berg
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Now, it is point to make adjustments. I am active trader. That was nice calculated trade! Break up of consolidation with well defined risk and nice follow through
andrew.berg
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I am not investor! I make adjustments and continue trading day by day.
What about you, what is your trading style?
andrew.berg
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Break out trades in this type of market (strong trend) work very well for me! I will continue following my process
vlad.adrian
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why don't you post some data from your trading account for this trade??? such as open price, stop loss... You are talking about well defined risk... look into your previous chart, where is the stop loss? at the 8/50/100/200 ema? that is what you told me.
andrew.berg
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Stop was below consolidation support
vlad.adrian
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ok and did u exit or are you still holding?
andrew.berg
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I use active position management. I always take some profits and hold rest.
vlad.adrian
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Ok so why dont u tell us here how u managed this position??