Yesterday there was not much good news to report as we continued to break down through multiple areas of support. I noted that the last line of defense for the bulls was $9,000 - $9,200 and it looks like that area help up...at least for now.
The next step will be rallying back above $9,500 and then turning that area into support. If we get rejected below $9,500 then we would form another lower high and lower low. That would be bad news for the bulls.
Unfortunately I made an egregious error last night that has cost me significantly. Before going to bed I went to re enter my stop loss at $8,749 and instead entered it as a sell order. That closed out my long right at the bottom. Now I am licking my wounds and trying not to beat myself up too bad. Mistakes happen.
If not in a position then I would be staying on the sidelines and awaiting further development. I am viewing the $8,800 - $9,500 as a no trade zone. If in a long then I would hang tight and see what happens at $9,500. It would be time to look for an exit if we cannot convincingly breakthrough that area and then turn it into support.
Conversely I am remaining bullish as long as we stay above $9,000. The climb up to $9,900 happened very fast and we were due for a healthy pullback. As long as support holds strong we should expect $10,000 very soon!
Happy trading and go bulls!
The next step will be rallying back above $9,500 and then turning that area into support. If we get rejected below $9,500 then we would form another lower high and lower low. That would be bad news for the bulls.
Unfortunately I made an egregious error last night that has cost me significantly. Before going to bed I went to re enter my stop loss at $8,749 and instead entered it as a sell order. That closed out my long right at the bottom. Now I am licking my wounds and trying not to beat myself up too bad. Mistakes happen.
If not in a position then I would be staying on the sidelines and awaiting further development. I am viewing the $8,800 - $9,500 as a no trade zone. If in a long then I would hang tight and see what happens at $9,500. It would be time to look for an exit if we cannot convincingly breakthrough that area and then turn it into support.
Conversely I am remaining bullish as long as we stay above $9,000. The climb up to $9,900 happened very fast and we were due for a healthy pullback. As long as support holds strong we should expect $10,000 very soon!
Happy trading and go bulls!
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.