Robust travel demand, strong Q4 for UAL.
Now, do we jump the gun? Well, maybe with a small size relative to what you'd call full size.
I do have a concern regarding the RSI being very close to overbought levels.
Of course, the market can just continue to go up, but I'm here for a good risk-to-reward ratio.
At the same time, I don't want to miss out too much.
I'm going long with 1/10 size and will scale heavily when we pull back into the EMA 20 and see some buyers stepping in.
Now, do we jump the gun? Well, maybe with a small size relative to what you'd call full size.
I do have a concern regarding the RSI being very close to overbought levels.
Of course, the market can just continue to go up, but I'm here for a good risk-to-reward ratio.
At the same time, I don't want to miss out too much.
I'm going long with 1/10 size and will scale heavily when we pull back into the EMA 20 and see some buyers stepping in.
Note
RSI above the 70 level is not something to be too scared about, but it’s a good point to scale out, normally to re-enter later. If not all the stars align, there’s no point in calling it an A+ setup. It can always become an A+.
Note
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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.