Weed is at the trend/value channel bottom.
I will be watching for a strong rejection and trend pivot this week.
And then a signal to start building my position again.
My thoughts:
This week may be the beginning of the climb to Nov Sell off. (November is typically profit-taking month).
Many investors and traders may agree that weed is on now sale, and buy buy buy.
These past few weeks surprised me how hard the sell-off was.
I was expecting something, but then it became a panic sell-off. Silly Market.
I will be watching for a strong rejection and trend pivot this week.
And then a signal to start building my position again.
My thoughts:
This week may be the beginning of the climb to Nov Sell off. (November is typically profit-taking month).
Many investors and traders may agree that weed is on now sale, and buy buy buy.
These past few weeks surprised me how hard the sell-off was.
I was expecting something, but then it became a panic sell-off. Silly Market.
Trade active
Entry at 32.51 on gap up. This is my Strong rejection signal I was looking for.
Trade closed: stop reached
Stop reached with a retest of lower zone. I was aggressive on entry, with the strong momentum I saw on the morning tape. I saw a very strong bearish reaction in the afternoon closing session.
And SL hit at breakeven.
Watch for new entry signal.
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.
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.