This is one trade that I honestly lost interest in because it kicked my butt, so far ;) , and then I missed the wedge drop on Friday busy at work. But in hindsight, that's just emotions and my regency bias making excuses. Simply put , I should have entered Friday on the wedge drop plain and simple at work or not ....
So, that being said, I decided that if I was still able to get a entry near Friday's close today, I would give this one another shot , because wedge drop is a wedge drop and market trend is down ...
The weekly chart actually has a wedge drop along with the daily and I especially like the rejection in the wicks we can see here on the weekly which is less apparent on the daily . Tesla and Amazon make up just over 21% weighting each ( just under 43% combined ) of this fund and both are arguably in stage 3 tops and have not broken down yet . So I think that will have a big influence on how this trade goes .
Whatever the case XLY itself is in a stage 4 decline , SPY is in a stage 4 decline and QQQ is in a stage 4 decline .
Entry 175.57
Stop 180.49
Target 165.75 ( de risk area )
So, that being said, I decided that if I was still able to get a entry near Friday's close today, I would give this one another shot , because wedge drop is a wedge drop and market trend is down ...
The weekly chart actually has a wedge drop along with the daily and I especially like the rejection in the wicks we can see here on the weekly which is less apparent on the daily . Tesla and Amazon make up just over 21% weighting each ( just under 43% combined ) of this fund and both are arguably in stage 3 tops and have not broken down yet . So I think that will have a big influence on how this trade goes .
Whatever the case XLY itself is in a stage 4 decline , SPY is in a stage 4 decline and QQQ is in a stage 4 decline .
Entry 175.57
Stop 180.49
Target 165.75 ( de risk area )
Trade attivo
adj stop to BE , still have not de risked at 2R but want to get somewhat defensive here ...Nota
Sold 1/8 here , a tiny bit, early too but seeing as how this is a 4th attemtptand we are seeing some support in the range developed currently just want to act defensively here in case we pull a U turn ...
Nota
Observation , in the post market last night the target I had placed to de risk was actually touched , I will try to remember to allow limit trades outside regular mkt hours in future , this is something that has caught me multiple occasions that is easily remedied against by modified orders . Not to say I would have gotten filled but it did touch my target ~Nota
just derisked more at 165.75 , down to 1/3 of my shares now , and I will ride this to a close above the 10/21 emas stop on balance still BE/entryTrade chiuso: stop raggiunto
stopped out of balance today via protective stop and close above 10/21 emas
艾力克~
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
艾力克~
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.