SPXL , SHORT So , here's another trade that I'm really not confident in . But just following the wedge drop signal .
Also seems like bulls are having trouble taking out local daily resistance between 74.21 and 71.23 and making a higher high , we instead have 3 lower lows and seems like 3 times trying something and failing increases the probability of another leg down maybe ...
On the flip side however , we are in a range and the longer we stay in this range the more closer the odds of a break up come from favoring the bears slightly to being closer to even odds of up or down . I say that based on Al Brooks price action ,which I have found pretty helpful .
67.22 in
Stop 71.80
PT1 - 62.61 , sell 1/4 , raise stop to half risk
PT2 - 57.64 , sell 1/4
run balance ...