JBL - Aug 24 MATrend Unsustainable Momentum
Updated
I was looking for momentum pullback opportunities to go long if RUT held support on the H1 chart. At 1:22 AM SGT, the RUT H1 ATR started to significantly slow down, forming a clear support level.
This aligns with JBL finding a base, with its price action slowing down as well.
The RUT price setup suggests that consolidation might be beginning. As a result, our trade duration will be shorter—around 2 days—with a price target of 2.59R. The bet here is that RUT continues into a consolidation setup.
This is a tweak of the system below, tightening entry, duration and focus on Index price movement as a guide
MATrend Unsustainable Momentum (Systematic) ⏪
The strategy identifies stocks (Tech sector ) that follows the larger market regime's momentum of the day and because they are unable to maintain it price reverses quickly
Tight stops aligned to the price behaviour we are trying to capture. Which is a rapid break of the momentum.
This aligns with JBL finding a base, with its price action slowing down as well.
The RUT price setup suggests that consolidation might be beginning. As a result, our trade duration will be shorter—around 2 days—with a price target of 2.59R. The bet here is that RUT continues into a consolidation setup.
This is a tweak of the system below, tightening entry, duration and focus on Index price movement as a guide
MATrend Unsustainable Momentum (Systematic) ⏪
The strategy identifies stocks (Tech sector ) that follows the larger market regime's momentum of the day and because they are unable to maintain it price reverses quickly
Tight stops aligned to the price behaviour we are trying to capture. Which is a rapid break of the momentum.
Trade closed: stop reached
Price hit SL whipped up and continued to range. I need to reflect if I add convinced myself to make the JBL trade or was it truly a good trade that was going to happen
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