The latest rally’s been crazy and a pullback to the new comfortable support level of 300 would be only natural. People need to cover those long positions don’t they?
A careful short with trailing stop would
be a good idea.
What it better, it to wait till the mkt gets to the support level. Holds it, and then, goes to conquer new higher highs in 2020 with refreshed from the healthy correction.
That would be your perfect long, with a narrow stop just below the new support line. A good thing is that by the time we see the correction we are also expecting the current support line to intersect with the long term vertical support line, so that our long would be powered by the Two massive support lines, one being very strong psychological level of 300, and the second one being a long term strong support line.
So, even though this post is about shorting, the real true trade is in the long, that follows this short.
Keep your stops in check, good luck!
A careful short with trailing stop would
be a good idea.
What it better, it to wait till the mkt gets to the support level. Holds it, and then, goes to conquer new higher highs in 2020 with refreshed from the healthy correction.
That would be your perfect long, with a narrow stop just below the new support line. A good thing is that by the time we see the correction we are also expecting the current support line to intersect with the long term vertical support line, so that our long would be powered by the Two massive support lines, one being very strong psychological level of 300, and the second one being a long term strong support line.
So, even though this post is about shorting, the real true trade is in the long, that follows this short.
Keep your stops in check, good luck!