Walmart is sitting at an obvious support level from 04/12, while a descending trendline from the ATH-to-lower-highs and 9-day EMA are all catching up to the price.
Wacky price action around the fed meeting may foil any plans I may have around shoring this at the top of the channel to the 4/12 low, or from the 4/12 low if it becomes obvious resistance once we get below it.
Wall Street seems to enjoy chopping us up on Fed days, so I'll be cautious with this one.
Wacky price action around the fed meeting may foil any plans I may have around shoring this at the top of the channel to the 4/12 low, or from the 4/12 low if it becomes obvious resistance once we get below it.
Wall Street seems to enjoy chopping us up on Fed days, so I'll be cautious with this one.
Order cancelled:
Plan worked well in the morning, then off the rails during the afternoon fed announcement.
I should have known better. Trends are secondary when Wall Street decides to crush them.
I should have known better. Trends are secondary when Wall Street decides to crush them.
Trade active:
Back tested channel... Bounced back in, and now trading as planned.
Lesson: Don't trade on Fed Day... :-)
Lesson: Don't trade on Fed Day... :-)