Looking for short term trading opportunity back to 100 - back to the 50 day moving average.
* clearly defined falling wedge
* double bottom at the 85 level -- a level which also was congested some months ago - strong support here.
* MACD setting higher lows; about to cross the trigger line.
* gambling/speculating on this with 93, 95 calls sep/11; may push forward another week if setup doesn't break down.
* clearly defined falling wedge
* double bottom at the 85 level -- a level which also was congested some months ago - strong support here.
* MACD setting higher lows; about to cross the trigger line.
* gambling/speculating on this with 93, 95 calls sep/11; may push forward another week if setup doesn't break down.
Trade closed manually
closed this out in the am around 97 - it could get back up there but with only one day left and the market breaking down, now seems like a wise time to take profits.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.