The daily up correction trend line was broken today. Based on shorter term patterns I took my first short position, about 1/3 of what longer term I Hope to have. As you know most “gaps” are closed within a short time period except for so called “opening” gap. Usually it’s hard to know it was an opening gap til much later. For me personally when there is a fairly extexted trend ,then there is a gap that break the trend line and isn’t closed intraday I think there is a good chance it is an opening gap; ie a sign of trend reversal. Which we had today. The next sign will be taking out the previous daily low (horizontal dotted line).
Process your way. Best to ya.
Process your way. Best to ya.
Comment:
Best on intraday action. Have a great weekend.
Trade closed: stop reached
