Could get a small move to the upside here with a small hold timeframe in mind. If momo is to follow through here wouldnt be a bad place to put on position with the risk defined. Above the second purple level is constructive for a retracement higher. -- Energy sector has been a horrible sector to put your money in for some time though.
Above the blue shaded region want to be long for a short timeframe move. RR is there. However, risk adjusted returns may be better in sectors with better relative strength. Trade may not be suitable for all risk profiles
Daily and weekly timeframe view -- Just about the best rr entry you can ask for if one had a long bias.
2/May/2019 11:24 AM -- Spy Key level IWM and RSP key levels Qs breaking RSI TL and falling below 70. -- Assuming we dont get an intraday reversal: Get defensive. Difficult to put on a short position here as momo has not shown itself yet. Ask yourself if then's to determine where to manage size and risk. -- Fully aware I published a long idea saying no reason to...
If RSI is below orange lvl no reason to be long
Idea would be to: Buy into the daily range low here. Stop at 115.80s for the first few days of the trade -- Objective: Higher time frame position, looking at the weekly and monthly.
If Iwm can break recent highs would be constructive. Would show risk being put on.
If UNH close below the marked RSI uniformity level at the end of the month I would expect a continued down move for health care stocks. -- If we break 208 and hold on the weekly consider an entry with target being the 61.8 retrace and a wide stop around 230. -- Add size on the break and hold below 200. -- Watch sector indexes and leaders regularly to evaluate...
Lets talk aboutb what you need to see for a directional trade to the downside -- Close below 267.50 along with Qs and Tech etfs rolling would be cause for entry to the downside with a target of 255 Would expect other technology stocks to be have similiar price action at the time. If not Conviction is lowered substantially. With no momo sector wide, no need for a...
Long idea - With short holding timeframe in mind -Stop below 50ema~(1.2% away) -Potential reward top of wedge~(2.8% away) Take it level by level to determine if taking profits at the target or if this should become a trade2Hold
Area to take some risk off. Consider some 10yr US treasuries.
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 and...
Reaffirmed confirmation with 4hr RSI close below 45. -- Divergence and RSI TL break suggested to scale into short position. -- Not advice to buy or sell.
Take it level by level from there. Look for it to hold below key levels as a sign to look at on higher time frames for a trade2hold