SMG Short following break down from channel

٨ يونيو ٢٠١٨

SMG has recently broken down from monthly trendlines. We will wait for it to recover to volume node and then enter a short position, risking off the 78% fib retracement, which is unlikely to occur. Do not enter position until signs of weakness or target is reached.

٨ يونيو ٢٠١٨

ملاحظة

One thought is, it may be late for this trade as our opportunity to sell at volume profile node was on 4/23. Was not monitoring for this trade at that time sadly so good chance we will not get the opportunity.

١١ يونيو ٢٠١٨

ملاحظة

No entry yet, but still looking for price to come up to volume node for the opportunity.

١٨ يونيو ٢٠١٨

ملاحظة

No entry yet

٢٠ يونيو ٢٠١٨

ملاحظة

Price is moving down but no entry taken yet. Some support here at 79.05 provided by 4/30 high volume red candle with long wick. We are now 1/2 way down that long wick and at 9/12 lows. There should be some buyers here but I have no recommendation for buying.

Considering closing this trade I think my original assessment that the opportunity already passed on 4/23 was the right one. The right short entry was when we touched the volume node on 4/23.

٢٠ يونيو ٢٠١٨

ملاحظة

*cancelling

٢٧ يوليو ٢٠١٨

ملاحظة

79.98 would be a good opportunity to close short early. Sadly I did not get my entry/saw the trade late.

١ أغسطس ٢٠١٨

ملاحظة

We hit price target today.