Dying Demand:
Compression zone: Price since 6 Sep has moved into a compression range.
Hypothesis
Resistance/Support
Broad Market Momentum
Trade Risk/Reward
What I need to work on
- Since 27 Jul, we have seen buying strength bring price up towards key levels only for it to be brought down.
- There is a KL at 77.67 and price has been unable to sustain the breakthrough only to be brought down very quickly
Compression zone: Price since 6 Sep has moved into a compression range.
- 4H price has been moving with the 100EMA
- D1 price has shown price below the 100EMA with it unable to break the 100EMA line.
Hypothesis
- This trade falls nicely in my Student Loan hypothesis where we should see some impact or negative sentiment on consumer related categories where consumption is a "Want" instead of a "Need"
Resistance/Support
- With the dying demand and key resistance all above price, I entered it short
- D1 EMA100 line is also nicely above
- 4H EMA100 line is being threaded and while it is not optimal, I think we can take some risk on this due price being below D1 EMA100
Broad Market Momentum
- SPX is on a downwards movement
Trade Risk/Reward
- Planned R/R is 5% to 14.39%
What I need to work on
- I need to work on my exit plan, I think the current exit might be too simplistic and I might need to work on how I can portion it up and decrease the risk if the trade moves towards my directions
Trading ditutup: stop tercapai:
When the entire market dropped and STRA still held strong, I should have noticed that the opposite would be that an upside move could result is price spiking like it has.