Category: Nezaradené

Dangerous Times. Weekly Trades (12)

Ok, that up move thrust which occurred on the 3rd of March was not followed by any continuing price action. The price is still safely below $750. The price hasn’t broken up the major declining trend line. All this is telling me the bears are still in play and don’t want to capitulate any time soon.
But. These days are very dangerous for a short term trading because the market is going nowhere and a reward/risk ratio has decreased rapidly. So either you better damn good know what you’re doing or stay out of this ugly choppy market. Personally I opened a short position at $630 last week and expect fall at least to $560. In what time horizon? I really don’t know.

Sell: 627    Stop-loss: 657     Take Profit: 600; 580; 530
Buy: 657     SL: 627                TP: 675; 700

Cautious Buying. Weekly Trades (11)

As mentioned in the previous post trend starts to change slowly from bear to bull. We could have seen the first shot up fired last week. However the buyers are still not out of woods, price needs to break main down trendline first and then crucial $750 significant turning point. My personal bias is up but I would also open a short position.
Buy: 654    Stop-loss: 613      Take Profit: 670; 700; 740
Sell: 612     SL: 639                  TP: 585; 562

Sorry Bulls, Bears Still In Charge. Weekly Trades (9)

Bulls are waking up slowly but they are not out of the woods yet. Today’s candle looks heavily bearish (right now, it can change until the close but I would be surprised) and sellers are going out to show their muscles again. Until $720 and then $750 level is broken up in some sustainable way I stay bearish. That means I’m not interested in a short-term buying and strategy is only to sell or wait.

Sell: now or up to 650    Stop-loss: 650    Take Profit: 565; 535; 500