Bounce off trendlines
Updated
I'm looking to go long if we can keep above this bounce off the trendline. I will wait to place my order until we get near the close. I have been using UPRO (3X S&P for my swing trades.) I expect to retest the 2900 resistance level. I and can make a quick 4-5% as part of that retest. If we can close above 2900, I expect we are heading up toward the top trendline.
Note
I'm glad I waited to place my buy order until the end of the day. It looks like we are going to retest the trendline.Trade closed: stop reached
Closed my long, as my stop was reached. I took a 2% loss on this one. The Walmart news was just not enough to sustain the upward move today.
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.