Patiently waiting for a trend reversal
CATALYST
We've had an unprecedented bull run fuelled by a strong American economy and recovery. From a techincal standpoint, it seems impossible that it could continue at this trajectory and that it will eventually need to fall and hit the bottom of the channel/rising wedge.
SETUP
Trend reversal. I entered to early on Jan 24, getting in as soon as support was broken. A new support for the trendline was created and we've contined up. That said, my strategy remains sound and I believe it will be a matter of time before the reversal happens.
RRR
1.15
It was much better, but I've let it ride pretty hard. There's potentially for this to get even worse before it gets better.
PROFIT
5.56% to 10.5%
LOSS
4.83%
SOURCE
DT, Blue
We've had an unprecedented bull run fuelled by a strong American economy and recovery. From a techincal standpoint, it seems impossible that it could continue at this trajectory and that it will eventually need to fall and hit the bottom of the channel/rising wedge.
SETUP
Trend reversal. I entered to early on Jan 24, getting in as soon as support was broken. A new support for the trendline was created and we've contined up. That said, my strategy remains sound and I believe it will be a matter of time before the reversal happens.
RRR
1.15
It was much better, but I've let it ride pretty hard. There's potentially for this to get even worse before it gets better.
PROFIT
5.56% to 10.5%
LOSS
4.83%
SOURCE
DT, Blue
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