Chart shows the weekly chart with previous breakdowns from long term uptrend channels shown. As can be seen, the downwards price action can last for a year or up to 30 months in the case of the tech crash at the turn of the millenium.
I will be waiting for price to retest the 20EMA on the weekly chart and placing bearish options plays at those price points. I prefer credit spreads as opposed to outright shorts or directional plays. Patience in waiting for pullbacks is key here. I hate chasing the market either up or down.
I will be waiting for price to retest the 20EMA on the weekly chart and placing bearish options plays at those price points. I prefer credit spreads as opposed to outright shorts or directional plays. Patience in waiting for pullbacks is key here. I hate chasing the market either up or down.
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