The stubborn hunt for the 40's
Updated
Still short from $54, have not sold or added to my position at all.
Blue line: $52 transition line, this line needs to be broken strong for us to head lower imo.
Red trend-lines: We've see an increase in prices, with declining RSI. This is a bear divergence.(whether or not it will play it is another story, yet I believe it will)
Orange line: This was a bull RSI trend-line witch has been broken as of late, and the RSI is beginning to look very bearish to me.
The flags are areas in which I am predicting that the RSI and price will hit. I am not adding or selling any of my position for the near future (obviously unless my SL at BE gets hit).
I will be expecting slight bounces based on some BS news from the middle east, or if we hit any support areas on the way down, however I will not be scared into selling something that easily looks bearish in my eyes.
Blue line: $52 transition line, this line needs to be broken strong for us to head lower imo.
Red trend-lines: We've see an increase in prices, with declining RSI. This is a bear divergence.(whether or not it will play it is another story, yet I believe it will)
Orange line: This was a bull RSI trend-line witch has been broken as of late, and the RSI is beginning to look very bearish to me.
The flags are areas in which I am predicting that the RSI and price will hit. I am not adding or selling any of my position for the near future (obviously unless my SL at BE gets hit).
I will be expecting slight bounces based on some BS news from the middle east, or if we hit any support areas on the way down, however I will not be scared into selling something that easily looks bearish in my eyes.
Note
Virtually no volume today, not much changed.Still short without any additions to my position.
Trade closed manually
I will be closing my position at open to relocate capital to better opportunities.Doesn't look like this thing is moving.
Trade active
Scratch that, I ain't selling. Moved SL to BE.Roll with me, daddy needs some play money.
Related publications
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.