Vukile dnt look so Vukile anymore!!

The REIT seems to be losing momentum. Since the end of August the REIT had good momentum upwards. On the weekly the upward surge looked like a big retracement from the downward spiral that commenced early June. So if this thesis is correct the retracement should end on the weekly Kijun level which is the 1939 area. If we close on the daily below this level we trigger a sell with the 1st target being the 1890 level.

Entry : daily close below 1939
SL: slightly above the high of today(well the high as at now at least) 1968
TP: Daily SSB 1870

NB: Remember this is just technical analysis not a crystal ball so risk management is the most important element (risk half of what you are comfortble with:))

Trade ativo:

Finally...we can enter, remember i said we want the daily close below 1939....so let the games begin!!

Trade fechado: stop atingido:

We got stopped out in the morning with a very hostile candle:). . . .The theory is still standing though,so on daily close today if we close below 1939 we short again but this time our stop is wider to encompass the wild candles so ild say 2005 would do. We have two TPs now so ild open two small positions with one TP @ 1870 and the second @ 1825 (this will probably be hit in December)....

Remember risk management is 70% of the game..so risk half of what you are confident about!!

Comentário:

We have been in since Friday so we are waiting patiently:)