BBTrader29
Short

SQ Double Top

NYSE:SQ   SQUARE INC
SQ is finishing a double top pattern with neckline support at $60.60. A breakdown through this neckline would cause further retracement to the $52-55 level. Small cap index's look very bearish right now so i would expect we can see a breakdown to these levels by next week.
I agree. For further justification there is a short pennant forming which would get you to your target range as well
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BBTrader29 grubby1220
@grubby1220, yeah hopefully, if the market has another push higher, may need to get out of this trade for a loss
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grubby1220 BBTrader29
@BBTrader29, Hey BB, well tomorrow is Friday and how many Fridays has it been in a row where things go haywire. If I may ask, what was your entry point?

I’m hoping for at least a down morning with a couple of positions but we will see. (This is not political in anyway) but generally Trump launches on tweet a week to wreak havoc and we haven’t received yet
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BBTrader29 grubby1220
@grubby1220, I entered this trade roughly at $61.75, a little behind but the trade is still developing. I agree trump tweets wreck the market, I’ve learned my lesson from that and learned how to trade around it. Trade war tweets wreck the market so if I’m long on any at that time, I liquidate as an opportunity cost and sit on the sidelines or change to the short side
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grubby1220 BBTrader29
@BBTrader29, Good Morning BB. Not that might advise carries much water but I think if you hold on to it for a bit longer you may get some gain out of it. I think when there are a couple (or more) tech analysis pointing to a directional move it is generally going to happen.

For TWTR I was thinking of short but since yesterday was such a fantastic day I figured I would hold off. Thanks for the note and have a good one
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BBTrader29 grubby1220
@grubby1220, base on my style of trading and risk management, its more advantageous to get out of certain positions when trade war news hits whether its for a profit or loss. Its saved me more money than its costed me, as my stops would've been hit if I had not gotten out of certain trades. After his tweets in May and July the market went down significantly
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BBTrader29 grubby1220
@grubby1220, TWTR is forming an ascending triangle pattern and does look like it may break out to the upside, i'd see how it shakes out
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