$IQ - Watching for long/short entry
IQ has almost broken down trend resistance. It appeared to have broken after most recent run up, but has hit 30.00 resistance. If 30.00 resistance doesn't break soon, this will continue on the down trend back to 25.00. I will look for the short entry at the crack of 28.00. This will also confirm a failed bullish crossover on the MACD. If the 30 resistance breaks, this will confirm the down trend break, the MACD bullish crossover and the horizontal resistance break. This will likely see a large bull volume increase for a big run. This is where I will look for entry on a long position.
On the bearish move, I will get lower risk puts to trade, looking for small slower profit (2-3 weeks out)
On the bullish move, I will get higher risk calls to trade, looking for quicker, but larger profit due to expected large run (1-2 weeks out)
On the bearish move, I will get lower risk puts to trade, looking for small slower profit (2-3 weeks out)
On the bullish move, I will get higher risk calls to trade, looking for quicker, but larger profit due to expected large run (1-2 weeks out)
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