We made new highs today, but found resistance
at the monthly R1 pivot. We also formed
a shooting star candle pattern, which is bearish. My trade pattern ranking moved up to 6 from
4. It’s the first sign of a potential
bearish trade. You could either put on a
small bearish option trade OR trade off the candle pattern. You could enter below today’s low @ 136.98
with stops above today’s high @ 138.38. I
would prefer a bearish trade at higher prices, but it’s definitely now worth a
low risk trade as it stands now.
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