I not a pessimist, I'm realist and opportunistic. And the reality is that the Dow and others indexes are dropping.
Traders make money in bull and bear markets without make predictions. Adaptability for the change is the key.
Technical Concept: Support becomes Resistance (Resistance=Red Arrows) (Support=Blue Arrows)
First look how the price broke the support line around 40.00
Breakout support and pullback is very clear from a weekly point of view
(Weekly candles closes are very relevant in traditional Technical Analysis)
But now the price is between 40.00 and 30.00
Based on this a swing trader can do a short swing based in price action Sell now the actual price and buy to cover if the price drops to 30.00
Or a Swing Core Trade: Sell short some shares at the actual price and if the price drops and broke the next support level at 30.00
ad more to the position and the trade can go from weeks to months.
I do not give Price targets for a Swing Core Trade
The trader who like the idea handle this based in your risk profile and your money management rules.
This need patience and cold blood.
Traders make money in bull and bear markets without make predictions. Adaptability for the change is the key.
Technical Concept: Support becomes Resistance (Resistance=Red Arrows) (Support=Blue Arrows)
First look how the price broke the support line around 40.00
Breakout support and pullback is very clear from a weekly point of view
(Weekly candles closes are very relevant in traditional Technical Analysis)
But now the price is between 40.00 and 30.00
Based on this a swing trader can do a short swing based in price action Sell now the actual price and buy to cover if the price drops to 30.00
Or a Swing Core Trade: Sell short some shares at the actual price and if the price drops and broke the next support level at 30.00
ad more to the position and the trade can go from weeks to months.
I do not give Price targets for a Swing Core Trade
The trader who like the idea handle this based in your risk profile and your money management rules.
This need patience and cold blood.