20/Mar/2019 12:49 PM
I would guess spy hourly catches cloud.
To Papai i said:
"if amd closes below $25 this week might I suggest taking some profit. Not saying to close position. - But I think you should have an if then plan. - If at the same time XLK were to get below 72 and close below I would personally consider that affirmation for profit taking
For confirmation daily RSI needs to stay below 50.
ATR right now equates to about 3%. Stop is a little tight for that. Something to keep in mind and reflect on later.
Shorting one of the names that has held up well is probably not the best choice for capital allocation however.
Im sure some sort of cipher or bat pattern could better pick a target.
Other time frames listed below
2 hour needs to be bounce here
If it doesnt daily time frame RSI will break down
Before this we were focused on the 1Hr 50 level, and then the 40 level after the first test of the 50 during this massive up leg
General note: All higher timeframes are bullish. Stars are aligned but rejection could take place. THus why were...