Well, you know there's a significant trendline starting from 28th May ... I believe it should go down to low-30ish within 3 weeks (till mid Aug)
So my trading setup is as follows...
Assume the lower trendline breaks on Monday...(7/27)
Entry: 40.77 / Quantity : 2 contracts
S/L: 41.64
Target: (1) 40.02 / (2) 31.17
P/L ratio: 11
- Entry, S/L can vary depending on price action & price level vs. the lower trendline
- Once it reaches the target (1), take-profit half of the initial position, moving S/L to the entry level
- If price retested trendline, it would trigger the breakeven stop-loss. In that case will enter the same position again, possibly w/ better price.
Triggered by US IT stocks tumbling, there's possibility that near-term global rebalancing should occur..along w/ massive correction of all assets.
So my trading setup is as follows...
Assume the lower trendline breaks on Monday...(7/27)
Entry: 40.77 / Quantity : 2 contracts
S/L: 41.64
Target: (1) 40.02 / (2) 31.17
P/L ratio: 11
- Entry, S/L can vary depending on price action & price level vs. the lower trendline
- Once it reaches the target (1), take-profit half of the initial position, moving S/L to the entry level
- If price retested trendline, it would trigger the breakeven stop-loss. In that case will enter the same position again, possibly w/ better price.
Triggered by US IT stocks tumbling, there's possibility that near-term global rebalancing should occur..along w/ massive correction of all assets.
Comment:
Enter short-position: 40.68
Trade active:
Enter short-position: 40.68
S/L @ 41.75
S/L @ 41.75
Trade closed: stop reached:
Hit 41.75 - lost 108 ticks or $1080
Anyway, not entered position yet