Congrats to all who acted on my last post about the 3rd rising wedge about to break in April and see a 5-7% retracement.
The rising wedge shown here has a lot more downside potential. This can probably break down today or next week at the latest.
Good luck!
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Quick update. Still short here. Expecting breakdown next week. Too much resistance around 2930 to see any more upside from here. Unless we get very positively significant news (e.g. real trade deal with China, OPEC production cut, COVID-19 cure)
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Update: Exited my short today at 2890. Way too early, don't know what was wrong with me. I got a bit too emotional about breaking even on my puts. Still made 5% on this trade. Looking to re-enter on a gap up if I get a chance. I think we can easily drop 5-10% from here.
I hope you're right.. .we thought it was gonna go way down on Monday... and here we are...
InfowarsTrader
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@Gostus79, I exited shorts way too early today. Gotta stick to the plan next time.
Gostus79
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@InfowarsTrader, Well I've been holding the bag for over 2 weeks, added some more puts yesterday, gonna try to ride it all the way down making stops along the way. And if it goes the other way... I'll just keep holding the bag, it does get heavy at times.