Half position short on at 18.47
Overall market (XJO, DJI and SPX is now closing daily candles red)
We also have global bad news catalyst of covid19 out break in the US I see next weeks trading session as a short, as confidence in this overall market rally should weaken.
APT hit a daily exhaustion after a solid rally, I am now playing this as a "dead cat bounce"
Half my usual trade position is on due to taking two losses in a row this week, I have chosen to size down on this entry as I am holding weekend exposure for a possible gap up on Monday open.
The stops are wide on this trade as i'll be adding size on if it tries to re test the previous high on the daily and if a rejection is confirmed i'll add more and tighten my stop.
Overall market (XJO, DJI and SPX is now closing daily candles red)
We also have global bad news catalyst of covid19 out break in the US I see next weeks trading session as a short, as confidence in this overall market rally should weaken.
APT hit a daily exhaustion after a solid rally, I am now playing this as a "dead cat bounce"
Half my usual trade position is on due to taking two losses in a row this week, I have chosen to size down on this entry as I am holding weekend exposure for a possible gap up on Monday open.
The stops are wide on this trade as i'll be adding size on if it tries to re test the previous high on the daily and if a rejection is confirmed i'll add more and tighten my stop.
Comment:
this trade did not work out, break down failed and the trade got caught up in a ranging market, stopping me out at 21.90 on half position size for a minor loss