ENB Enbridge breaks daily uptrend - Short if pattern holds

10 thg 9, 2018

Red arrows show where up-trend was broken
Green arrows show where price bounced down from previous up-trend (reversal indication)
If breaks below 44.15, downtrend should be confirmed

14 thg 9, 2018

Giao dịch đang hoạt động

Took a short position (bought put options) in the 45 range - so far the strategy seems to be working.
- New Daily Low - broke below 44.15
- Looking for a price of around 43 to exit the trade - or set SL and let it run if it breaks below 43 substantially.

20 thg 9, 2018

Ghi chú

Small update - still short - price is below 20 and 50 daily SMA, and testing support daily (around 44.40) if support doesn't break in the next 3-5 days the weekly 20 sma (in an up-trend) could pull this higher, in which case I'll exit.

24 thg 9, 2018

Ghi chú

.5% breakdown, new target is 43 for this week. Longer term I'm bullish so I'm watching closely for a bounce off support at 43. At that point depending on price action I'll potentially reverse my position.

26 thg 9, 2018

Ghi chú

Trade is looking great. Blew through 43 on the downside - set SL and will lock in profits when there is some consolidation after the primary down move.