Over emas on daily. Lets just add this one to the
win list. We have a hit list being accumulated.
The daily candle here is peeking its head above
the past row of candles and finished strong but
not too strong where its exaggerated and extended
Whats The Plan/Trade/Thought
This trade rides on retails overall tightening as a reaction to the Fed and the Global central banks raising their interest rates
Risk Mitigation
The action at entry shows the price testing the bottom S&R line. I think we can expect more bearish movement from retail but otherwise we have enough space to the strike
Imagine...
Whats The Plan/Trade/Thought
Signet Jewelers is a retailer of diamond jewellery. With the concerns of the recession, the cooling signs of the job market, layoffs in tech and the overall retail leadership cautiousness during the earnings. I think this is the right direction especially since it is following the larger market direction
US retail sales also...
not the sauer kind tho, theoretically gems should increase in value with inflation and stagflation so well see how this plays out, i would start to buy in the $30 range
We have opened a broad window this morning. Now we are watching a star. This may indicate an attempt of the bears to take profit(as I have also just done) in the very short run.
I have been expecting a retracement downwards. But we've got a new high instead. This means that probably the year end rally on jewellery is beginning.
The new highs are little one only. However they are not sold imediately - a sign that there is more buying power than bears. Chrismas is coming definitely.
Great entry at open (market order wouldn't even fill!) big volume, squatted and stopped at at 1R. Should have at most set to breakeven and rode it out. Don't be too afraid of breakouts that squat.
Technically, I see an ascending triangle going into a gap straight thru to $49. Technicals aside, this is a great social trade. They make affordable jewelry, and that's something I'd like to play for Valentines day.
