ATOM: Bullish short term, waiting $10 for a high leverage short
Disclaimer: This is not financial advice
High leverage trading is all about entries, you need to have patience and to not let fear of missing out drive you into opening rushed positions. Map out your trades in advance and wait for the right entry. Our aim is to capture quick & safe profits, not to predict the future, this is possible only if we plan ahead and wait for a good entry. So if you're nervous and itching to open a position then take a few deep breaths and don't trade!
I'm looking at ATOM this afternoon, and I have to say this impulse doesn't seem to be over yet so I wouldn't short it here. There is a strong resistance at $9.3 however that should create some headwings and trigger at least a shallow correction back to 7. Overall ATOM looks healthy, it broke the Jun '19-Feb '20 downtrend line and is now on its way to retesting the Sep '19-Feb '20 uptrend line which was broken in February. It is this area that I expect to act as strong resistance, so it is here that I'm looking for a high leveraged short.
Entry: 9.4-9.6 SL: 10 TP1: 7.6 TP2: 6.38 TP3: 5.36
High leverage trading is all about entries, you need to have patience and to not let fear of missing out drive you into opening rushed positions. Map out your trades in advance and wait for the right entry. Our aim is to capture quick & safe profits, not to predict the future, this is possible only if we plan ahead and wait for a good entry. So if you're nervous and itching to open a position then take a few deep breaths and don't trade!
I'm looking at ATOM this afternoon, and I have to say this impulse doesn't seem to be over yet so I wouldn't short it here. There is a strong resistance at $9.3 however that should create some headwings and trigger at least a shallow correction back to 7. Overall ATOM looks healthy, it broke the Jun '19-Feb '20 downtrend line and is now on its way to retesting the Sep '19-Feb '20 uptrend line which was broken in February. It is this area that I expect to act as strong resistance, so it is here that I'm looking for a high leveraged short.
Entry: 9.4-9.6 SL: 10 TP1: 7.6 TP2: 6.38 TP3: 5.36
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