It's a longer term view.
The momentum is strong and SP500 gains are killing the active SLs, which gives the index an extra boost (in essence, you close a short by opening a long, which artificially creates more demand)
We are approaching the first significant extension level, which may lead to a correction from profit-taking (Closing a long is selling, so like opening a short).
I'm not entering this trade until a correction pattern (a multiple rejection of a FIB resistance level) is clear.
If .382 level gets rejected:
* T1 @ ~2205 for 50% of position and SL to be moved to B/E
* T2 @ ~2005
The momentum is strong and SP500 gains are killing the active SLs, which gives the index an extra boost (in essence, you close a short by opening a long, which artificially creates more demand)
We are approaching the first significant extension level, which may lead to a correction from profit-taking (Closing a long is selling, so like opening a short).
I'm not entering this trade until a correction pattern (a multiple rejection of a FIB resistance level) is clear.
If .382 level gets rejected:
* T1 @ ~2205 for 50% of position and SL to be moved to B/E
* T2 @ ~2005
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.