Good day folks,
Quick recap: we have an uptrend within a larger uptrend. It is bullish on an intermediate timeframe, life is good, no need to panic. The lately smaller uptrend is sitting on support, and it is holding (for now).
• I think that we are going to see consolidation in the first 2 trading days this week (see symmetrical triangle);
• We could see a bounce up, followed by a small selloff (green dot line). It is common after a selloff like we had Friday;
• I will be trading this consolidation both way, using weekly options;
• As you can see by the green dot line, if it happens this way, this would make a Head & Shoulder pattern on the chart;
• I’m gonna wait to see which side the breakout occurs (up or down of the triangle) before opening a new position, as I am not convinced yet of where the market is heading. The indicators (50 MA, RSI) look bearish though.
Cheers,
Quick recap: we have an uptrend within a larger uptrend. It is bullish on an intermediate timeframe, life is good, no need to panic. The lately smaller uptrend is sitting on support, and it is holding (for now).
• I think that we are going to see consolidation in the first 2 trading days this week (see symmetrical triangle);
• We could see a bounce up, followed by a small selloff (green dot line). It is common after a selloff like we had Friday;
• I will be trading this consolidation both way, using weekly options;
• As you can see by the green dot line, if it happens this way, this would make a Head & Shoulder pattern on the chart;
• I’m gonna wait to see which side the breakout occurs (up or down of the triangle) before opening a new position, as I am not convinced yet of where the market is heading. The indicators (50 MA, RSI) look bearish though.
Cheers,
Dagangan ditutup: hentian tercapai
Did not work out.
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.