Market went into red trading mode on April 6th for QQQ, and on SPY as of today . That puts SPY and QQQ below their daily 21 ema's and I see some stage 4 downtrends in the works on certain groups too . XLC is one of the weakest groups .
To short something I want to see:
1)QQQ/SPY in downtrends and below their 21 emas , we have this .
2)LL ( lower lows ) and HL ( Higher lows ) structure and even better would be stage 4 DT's on instrument we are shorting , we have this too .
Risk will be managed similarly to my longs but I am going to sell 1/2 at 2R and then set a breakeven stop , whereas with my longs I am selling 1/3rd at 2R and maintaining original stop . I might change the short side trade management still getting my bearings with shorts .
Anyhow ,
XLC , Short
entry 61.17
initial target 64.27
risk 0.5%
To short something I want to see:
1)QQQ/SPY in downtrends and below their 21 emas , we have this .
2)LL ( lower lows ) and HL ( Higher lows ) structure and even better would be stage 4 DT's on instrument we are shorting , we have this too .
Risk will be managed similarly to my longs but I am going to sell 1/2 at 2R and then set a breakeven stop , whereas with my longs I am selling 1/3rd at 2R and maintaining original stop . I might change the short side trade management still getting my bearings with shorts .
Anyhow ,
XLC , Short
entry 61.17
initial target 64.27
risk 0.5%
Note
correction HL should say LH on chartTrade active
De risked this and stop on balance is BE .. Finally a short that worked lol . 3 times stopped on XLY and once on SPY . XLC is the weakest of them ..Note
covered some shares here on todays 1st entry long by bulls ...still holding final 1/4 and will exit on WPTrade closed: stop reached
Balance of this covered on friday via updated protected stop , was also a close above 21 EMA and a HH...
艾力克~
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艾力克~
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.