Last long was stopped out and the Short calls at this level I have treated as "be in cash" rather than leveraged position calls.
With this latest flip I am still hesitant to feel very bullish. Bias is still bearish on weekly and daily chart. But part of using a system is following its rules.
So with this long call from a few days ago I have opened a cross margin position for the value of my trading account and have a 3% stop (this is the average volatility the system needs to be able to endure at the moment.
I will add to this position if we can close a daily candle above the 7MA and again if the 7/21 crosses bullish again. Will update if I close this position.
With this latest flip I am still hesitant to feel very bullish. Bias is still bearish on weekly and daily chart. But part of using a system is following its rules.
So with this long call from a few days ago I have opened a cross margin position for the value of my trading account and have a 3% stop (this is the average volatility the system needs to be able to endure at the moment.
I will add to this position if we can close a daily candle above the 7MA and again if the 7/21 crosses bullish again. Will update if I close this position.
We are near a number of resistances and up over 14% on system entry so this is a great place to take some profit and lock in those gains. I am going to hold onto a position size = to my account and let it ride. Will be looking for additional long entries near and below the yearly open (purple)