Red lines represent range low and high from previous macro-trend that acts as resistance and has proven to be popular buy orders. As we move into the yellow, I will open a short hedge that represents 50% of my current position, reducing portfolio exposure. Upon entry into the green, if the current macro-upward trend is not broken, I will be laddering buy orders starting from the range low($10,335).
We can also see descending volume.
When both the descending volume trend breaks and we are in the green range, I will close the short hedge.
We can also see descending volume.
When both the descending volume trend breaks and we are in the green range, I will close the short hedge.