I am feeling a breakout. Currently long.
btw if anyone actually finds my charts. I am basing my trades on HTF levels, trend (logic) and gut feeling that comes from looking at 1000s of charts the past few years.
The last time we hit $97 we had an absolute dump... This time it could be different. We actually have strong support that could hold. My box is the level to hold and im expecting it to be broken and regained for a move up. I will layer in the box with a wide stop loss.
Possible short set up if we start to distribute on the daily time frame at this monthly level. I love trades like this because I really don't care if it works or not. The stop loss is so simple and trades like this work all the time.
Usually after a huge move down into prior untested accumulation I would expect a pop to the upside. I dont see us bouncing here. I really think they just reject this level and continue much lower. I am shorting here even though I dont like to short at support. Risking half a percent or less.
I think long term, we are going to dump. Just a matter of setting up the move down now. This could be the spot. I am taking the short because it is an easy stoploss above previous all time highs.
