Accumulate shorts into the Right shoulder of the formation
Size = 1 standard contract per $ 10000 Account - distributed as follows
limit short 10k @ $32.50
limit short 10k @ $32.60
limit short 10k @ $32.70
limit short 10k @ $32.80
limit short 10k @ $32.90
limit short 10k @ $33.00
limit short 10k @ $33.10
limit short 10k @ $33.20
limit short 10k @ $33.30
limit short 10k @ $33.40
Take profits 500 pts from each entry. Take profit zone < $27.50 to $28.40 >
SL / Hedge equivalent amount of buy stops 150 points from position average @ $ 34.50
Projected Position average around $32.95
Take Care & Stay Safe.
Size = 1 standard contract per $ 10000 Account - distributed as follows
limit short 10k @ $32.50
limit short 10k @ $32.60
limit short 10k @ $32.70
limit short 10k @ $32.80
limit short 10k @ $32.90
limit short 10k @ $33.00
limit short 10k @ $33.10
limit short 10k @ $33.20
limit short 10k @ $33.30
limit short 10k @ $33.40
Take profits 500 pts from each entry. Take profit zone < $27.50 to $28.40 >
SL / Hedge equivalent amount of buy stops 150 points from position average @ $ 34.50
Projected Position average around $32.95
Take Care & Stay Safe.
Nota
All limit shorts filled to 1 standard contract averaging $32.96Raise Stop loss / hedges to $ 35.10 instead of $ 34.50
This equates to (-$2100) = 21% risk on a $ 10000 account
$35.10 is above the entire motive bear wave on the 15 min T.F
A rise > $35.10 means the current correction is over, and the market could rally to $38-39. Momentum on the daily chart is -ve, and doesn't warrant such a move, - but it could surprise.
Take Care & Stay Safe
Nota
I believe the double H&S top is developing into an ascending triangle, of which legs a-b-c-d have completed. Close all short holdings @ $ 32.00 (Leg- e, should take price to $ 31.80/70)Take all TPs to $32.00.
The next leg up after breakout from triangle could go to $ 38-39.
Take Care & Stay Safe
Nota
Close all short holdings @ market <$32.88-32.92> > this is at B/E + comm or very small profit. Price made $32.35 & missed our limit TP @ $32Take Care & Stay Safe
Nota
Its is was best to close out & protect the month's profits by avoiding over trading & unnecessary risk. The current formation is also unclear. It could be a double head & double shoulders bearish formation, or asymmetric triangle - probably bullish formation. So will stand down until formation is confirmed. Take Care & Stay Safe
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.