Shorted NU on last Thursday's BEOB. This was A+ for me, strong closing BEOB engulfing a number of previous bars with confluence of: 50% Fib, 365ema, RN 7800, previous LCS. Entry on break of bar, initial s/l behind bar high. Reduced stop slightly on Friday after price went to FTA.
Today price closed today below an important level to me - the 7600. I've reduced 75% of risk, using minor PPZ, RN 7700 and 365ema to hide my stop. Price has already gone past my first 2 trouble areas and may be stalling - so this trade has done more than expected. However, because it has been making Lower Highs and Lows since July, I'm comfortable letting this one ride for another day or so with most of my risk off the table. Really going to be watching the BRN 7500 to 7550 close (currently support) and the gap just below 7500.
We'll see how it plays out.
Today price closed today below an important level to me - the 7600. I've reduced 75% of risk, using minor PPZ, RN 7700 and 365ema to hide my stop. Price has already gone past my first 2 trouble areas and may be stalling - so this trade has done more than expected. However, because it has been making Lower Highs and Lows since July, I'm comfortable letting this one ride for another day or so with most of my risk off the table. Really going to be watching the BRN 7500 to 7550 close (currently support) and the gap just below 7500.
We'll see how it plays out.