We are short 3 contracts, here is our trade details in real-time:
- $120 initial risk (this is our maximum risk)
- $470 initial return (this return can be increased if/when we run the 3rd contract)
- 3.92 risk-reward ratio initially. We eventually will adjust this to 470 times return to 0 risk.
- Our position is on the correct side of our fundamental bias analysis
- Our position is on the correct side of our longer term technical bias analysis
- We are analyzing that the uptrend on the 200 tick is a pull-up on our longer term chart, therefore an opportunity to short / continue with the dominant side (short) of the market.
We will continue updating the progress of this position, including real-time decisions and analysis of condition changes.
A critical note to make is if we get stopped out at the level marked, this will resemble a bullish flag and an inability for sellers to resist price, therefore, our bias would change positive technically, but remain negative fundamentally. We would then buy the pullbacks with caution, and advise against trying to force the short trade since we had a B.O.T. long signal following a bullish flag and support of price by buyers.
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