BLL short since $74.
With price breaking back up through the ~$64.50 support/resistance mark, I'm accepting of the possibility for a longer consolidation like we had from early/middle September through late October. Any daily close above ~$68 would make me think about an exit. I still target ~$60, but it could be mid/late December before price breaks down. (could still be sooner if this is just a momentum bounce off the price-gap)
Consolidation ranges to the Price Gap left in the Daily bars on the low end, I suspect that will be a magnet to get filled, which could itself turn things lower before the trend line.
With price breaking back up through the ~$64.50 support/resistance mark, I'm accepting of the possibility for a longer consolidation like we had from early/middle September through late October. Any daily close above ~$68 would make me think about an exit. I still target ~$60, but it could be mid/late December before price breaks down. (could still be sooner if this is just a momentum bounce off the price-gap)
Consolidation ranges to the Price Gap left in the Daily bars on the low end, I suspect that will be a magnet to get filled, which could itself turn things lower before the trend line.
My conservative guess is that sideways action continues until it can re-touch the trend line resistance around where it crosses $68.
My hope is that the price gap still unfilled, which is now acting as the most recent support is a magnet so we get some wide swings here to trade on the way down and gain some alpha.