Dust Settles In A Trading Range (More Accumulation!)
Hi all,
My last post was at the begining of the uptrend which is still in play however with a correction and sideways accumulation right under the sell wall.
That said, there's nothing concerning right now and i did not make any changes to my position.
However, since we are in a sideways trading range, we have an opportunity to take a short at the top and long at the bottom.
So, i will be looking for invalidation of an upswing at 49k before taking a short and vice versa for the downswing at 43k.
For risk management and hedging purposes, i'll not short 100% of my account, but instead between 15% - 50% and keep both positions open, unless one of them gets invalidated.
BTW, My 100k target has changed as we have continued accumulation. I'm now looking at 123k as the pnf horizontal count suggests and we keep on accumulating!
Normally i don't trade intraday charts, but this is a good opportunity i don't want to miss and besides, i'd like to practice some swing trade as i have lots of free time now :)
As always, trade safe!
My last post was at the begining of the uptrend which is still in play however with a correction and sideways accumulation right under the sell wall.
That said, there's nothing concerning right now and i did not make any changes to my position.
However, since we are in a sideways trading range, we have an opportunity to take a short at the top and long at the bottom.
So, i will be looking for invalidation of an upswing at 49k before taking a short and vice versa for the downswing at 43k.
For risk management and hedging purposes, i'll not short 100% of my account, but instead between 15% - 50% and keep both positions open, unless one of them gets invalidated.
BTW, My 100k target has changed as we have continued accumulation. I'm now looking at 123k as the pnf horizontal count suggests and we keep on accumulating!
Normally i don't trade intraday charts, but this is a good opportunity i don't want to miss and besides, i'd like to practice some swing trade as i have lots of free time now :)
As always, trade safe!
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