STRA: Short Trade (Dying Demand)

Dying Demand:

• Since 27 Jul, we have seen buying strength bring price up towards key levels only for it to be brought down.
  
• There is a KL at 77.67 and price has been unable to sustain the breakthrough only to be brought down very quickly
  

Compression zone: Price since 6 Sep has moved into a compression range.

• 4H price has been moving with the 100EMA
  
• D1 price has shown price below the 100EMA with it unable to break the 100EMA line.
  

Hypothesis

• This trade falls nicely in my Student Loan hypothesis where we should see some impact or negative sentiment on consumer related categories where consumption is a "Want" instead of a "Need"
  

Resistance/Support

• With the dying demand and key resistance all above price, I entered it short
  
• D1 EMA100 line is also nicely above
  
• 4H EMA100 line is being threaded and while it is not optimal, I think we can take some risk on this due price being below D1 EMA100
  

Broad Market Momentum

• SPX is on a downwards movement
  

Trade Risk/Reward

• Planned R/R is 5% to 14.39%
  

What I need to work on

• I need to work on my exit plan, I think the current exit might be too simplistic and I might need to work on how I can portion it up and decrease the risk if the trade moves towards my directions
  

Trade closed: stop reached:

When the entire market dropped and STRA still held strong, I should have noticed that the opposite would be that an upside move could result is price spiking like it has.