Short
BNX moving sideways and looks scalpable
I'm spotting another potential break to the downside on an easy intraday short scalp on BNX.
It's been moving sideways. Tricky day to short as the markets are optimistic/at ease on the CPI print.
BNX has been pretty rocky and one of my favourite assets to scalp short lately.
I'm still looking for a short that I can "hold" into oblivion but I end up scalping pretty much every entry out.
Plan is to wait for a reduction in volume and volatility (which we're seeing a bit of now) and hopefully catch a 4:1 managing risk down to 0 as fast as possible and taking profit around any resistance areas.
If the fed stays on the optimistic side of the messaging, it could go up but today seems to be stabilizing a bit so I'm getting comfortable taking some scalps.
It's been moving sideways. Tricky day to short as the markets are optimistic/at ease on the CPI print.
BNX has been pretty rocky and one of my favourite assets to scalp short lately.
I'm still looking for a short that I can "hold" into oblivion but I end up scalping pretty much every entry out.
Plan is to wait for a reduction in volume and volatility (which we're seeing a bit of now) and hopefully catch a 4:1 managing risk down to 0 as fast as possible and taking profit around any resistance areas.
If the fed stays on the optimistic side of the messaging, it could go up but today seems to be stabilizing a bit so I'm getting comfortable taking some scalps.
Note
Went up into fed meeting. Better trading after the meet.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.