We're in a bear channel, and the big bull bar in the picture above is not enough to me to buy (closing a short means buying) on top of a bear channel. It could reverse and be a trap in the trap, or, a failed failure as Al Brooks would call it. In that case it would likely fuel a move downwards worth both the wait and most importantly, the risk. The risk now is much smaller than the potential reward, so even with a low probability, maybe 40% or so, that's why I'm still in.
I wish you a good trading week and remember that no trading advice is given in any of my posts
I wish you a good trading week and remember that no trading advice is given in any of my posts
