Nasdaq re-short update - wait for moving average convergence
Updated
Instead of waiting for the full retracement to the green line, I believe now that we will chop until the red and yellow moving averages converge (aligning our trade idea with the time til FOMC decision). I recommend not entering any trades until this convergence.
Trade closed manually
Looks like our short case failed.Trade active
I may have jumped the gun with that last update... The candle breakout was false and our short play is still in tact.Comment
Price is bouncing downwards... very possible we can revisit February lows.Comment
Expect to chop until tmrw before further drop. Protect your profits with stops.Disclaimer
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