As it says on the chart, the stop loss should be very tight because this is a bet on momentum. Because this is the first lower low, there are chances for an over extended move down. This was one of the worst hit sector today.
This is not a trade that's worth a big risk.
Weekly doesn't say much, only that price is not over extended like in 2011
This is not a trade that's worth a big risk.
Weekly doesn't say much, only that price is not over extended like in 2011