Morning Ideas November 14, 2019
Market still clearly accepting prices higher.
Profile becoming very box-y meaning that the market is indifferent at any price between the highs and lows of value.
The line in the sand below is still 70, in my opinion, and you'd wouldn't be wrong staying long until that is broken.
Remember, the market is accepting higher and when that happens, the more likely scenario is that we will continue in that direction.
If you're going to be short from up here, you have a nice Reward for your risk as long as you keep the stops tighter.
You don't want to be holding on to positions against the grain that are moving against you.
Profile becoming very box-y meaning that the market is indifferent at any price between the highs and lows of value.
The line in the sand below is still 70, in my opinion, and you'd wouldn't be wrong staying long until that is broken.
Remember, the market is accepting higher and when that happens, the more likely scenario is that we will continue in that direction.
If you're going to be short from up here, you have a nice Reward for your risk as long as you keep the stops tighter.
You don't want to be holding on to positions against the grain that are moving against you.