Dust Settles In A Trading Range (More Accumulation!)

Hi all,

My last post was at the begining of the uptrend which is still in play however with a correction and sideways accumulation right under the sell wall.

That said, there's nothing concerning right now and i did not make any changes to my position.

However, since we are in a sideways trading range, we have an opportunity to take a short at the top and long at the bottom.

So, i will be looking for invalidation of an upswing at 49k before taking a short and vice versa for the downswing at 43k.

For risk management and hedging purposes, i'll not short 100% of my account, but instead between 15% - 50% and keep both positions open, unless one of them gets invalidated.

BTW, My 100k target has changed as we have continued accumulation. I'm now looking at $123k as the pnf horizontal count suggests and we keep on accumulating!



Normally i don't trade intraday charts, but this is a good opportunity i don't want to miss and besides, i'd like to practice some swing trade as i have lots of free time now :)

As always, trade safe!