$BA 10/5-10/9 Short
- BA in upper side of larger downtrend channel originating back to June of this year (2020).
- Will be following new downtrend beginning on Oct one from 172 (Should be white line starting at those highs).
- Surrounding variables relating to COVID and also election tied in. I see downtrend continuing and possible overreaction in coming week. I expect a red week coming for the entire market. (BE ADVISED I HAVE VERY BEARISH OUTLOOK ON MARKETS WHERE THEY ARE REGARDLESS)
Entry: Really anywhere between 167-173 (165 if you're reaching, but obviously more risk is involved and I would maintain a tight leash on this if you enter around 165)
Price Targets:
162.5 - Really would like to see 165 levels broken down to 163-162.5, that was tested 10/1 but had strong support.
160.6/200D - 160 Support level dates back to 2015-2017 times
156 - Pretty heavy Q2 Resistance
150 - Late 2015 Resistance
145 - If it were to hit 145 levels I would exit my position entirely due to bottom channel inching closer. I would then plan Re entry for possible climb back to top channel.
Risk/Loss Leash: -1.5% OR TOP CHANNEL BREAKOUT
Trade at your own risk, I did not hit your buy/sell button
- BA in upper side of larger downtrend channel originating back to June of this year (2020).
- Will be following new downtrend beginning on Oct one from 172 (Should be white line starting at those highs).
- Surrounding variables relating to COVID and also election tied in. I see downtrend continuing and possible overreaction in coming week. I expect a red week coming for the entire market. (BE ADVISED I HAVE VERY BEARISH OUTLOOK ON MARKETS WHERE THEY ARE REGARDLESS)
Entry: Really anywhere between 167-173 (165 if you're reaching, but obviously more risk is involved and I would maintain a tight leash on this if you enter around 165)
Price Targets:
162.5 - Really would like to see 165 levels broken down to 163-162.5, that was tested 10/1 but had strong support.
160.6/200D - 160 Support level dates back to 2015-2017 times
156 - Pretty heavy Q2 Resistance
150 - Late 2015 Resistance
145 - If it were to hit 145 levels I would exit my position entirely due to bottom channel inching closer. I would then plan Re entry for possible climb back to top channel.
Risk/Loss Leash: -1.5% OR TOP CHANNEL BREAKOUT
Trade at your own risk, I did not hit your buy/sell button