Nothing has really changed with my positions. I'm still holding shorts for the longer term with the main target being around the mid 231 region. I may take some off at 234 and hold some for a potential 221 target though most will be banked around 231.5 should it print.
Now, if this upward move continues and exceeds the recent high 240.50+ then I will start to reverse my shorts into longs with targets of 244, 247 and holding some for a potential 251 target.
At the moment we are at a faily strong brick wall that has normally taken about 2 weeks to break, so being on the underside of the wall I will remain bearish but gradually turn bullish if it starts to fracture. At the moment we have been lingering around this wall for a week and we should find out this week whether it holds or breaks. Either way, I believe the deciding move should be a big one.
In the mean time, I will enter intraday moves as I see them.
Now, if this upward move continues and exceeds the recent high 240.50+ then I will start to reverse my shorts into longs with targets of 244, 247 and holding some for a potential 251 target.
At the moment we are at a faily strong brick wall that has normally taken about 2 weeks to break, so being on the underside of the wall I will remain bearish but gradually turn bullish if it starts to fracture. At the moment we have been lingering around this wall for a week and we should find out this week whether it holds or breaks. Either way, I believe the deciding move should be a big one.
In the mean time, I will enter intraday moves as I see them.