now its time. syna has reached 40. A double top on its weekly chart.
ready......aaaim....FIRE!
ready......aaaim....FIRE!
short syna
- Thread starter cashmoney69
- Start date
I think you'll be on fire!
This is a bull trend right thru to the monthly chart. There's a chance of a quick pullback but with so much up pressure I'd want to see it signal intraday and then short it, but to short it on a double top with this much strength risks a blow through gap opening.
It's just broken up through a rising wedge with a wide range candle on big volume. If that wedge formation was not broken then the shorts would look good and the volume would signal a reversal. As the formation has a bullish break and the weekly and monthly timeframes are very bullish you should have been positioned long waiting for a reversal signal.
You are trading on anticipation of a reversal but there a good chance of a gap up. This can be an easy low risk short if you take the position on an intraday reversal signal.
Going short at 36 in a bull trend was a mistake but adding at 40 double top is a real gamble.
I've read some of your posts and you do good work. IMHO you have not distinguished between a good double top for shorting and one that is likely to blow through.
Also this is the 3rd attempt at this level daily. The 2nd had a volume failure. This attempt has greater volume than that failure and so tells you to wait for a reversal signal as the pressure up is greater.
Good luck, you might need it.
This is a bull trend right thru to the monthly chart. There's a chance of a quick pullback but with so much up pressure I'd want to see it signal intraday and then short it, but to short it on a double top with this much strength risks a blow through gap opening.
It's just broken up through a rising wedge with a wide range candle on big volume. If that wedge formation was not broken then the shorts would look good and the volume would signal a reversal. As the formation has a bullish break and the weekly and monthly timeframes are very bullish you should have been positioned long waiting for a reversal signal.
You are trading on anticipation of a reversal but there a good chance of a gap up. This can be an easy low risk short if you take the position on an intraday reversal signal.
Going short at 36 in a bull trend was a mistake but adding at 40 double top is a real gamble.
I've read some of your posts and you do good work. IMHO you have not distinguished between a good double top for shorting and one that is likely to blow through.
Also this is the 3rd attempt at this level daily. The 2nd had a volume failure. This attempt has greater volume than that failure and so tells you to wait for a reversal signal as the pressure up is greater.
Good luck, you might need it.
