Having got short on my prop account at 103 I am now looking to target 91.5
The trend line down has been touch 4 times on a weekly chart making it a very significant line to be aware of.
Everyone that was calling for a double bottom I believe had thought that the FED would raise in September. If they do then i can see this trade not going to TP. If they do not quite a few stops are going to be targeted below 100.
Looking at the way the Fib and TL have been apart of the same confluence I look forward to seeing how this plays out.
The trend line down has been touch 4 times on a weekly chart making it a very significant line to be aware of.
Everyone that was calling for a double bottom I believe had thought that the FED would raise in September. If they do then i can see this trade not going to TP. If they do not quite a few stops are going to be targeted below 100.
Looking at the way the Fib and TL have been apart of the same confluence I look forward to seeing how this plays out.
My original Short position is on and the SL stays in place. The idea of going long is to lock in some gains and if I should get stopped out on the Short I will be in a good place for the long to go to the Moon :)