WEED, Bull Open --> Short Play Midday
Expect a bullish open, from bullish market continuation on the S&P500. However, fully expecting RSI to become overbought after the bull open. S&P will cool-off, and WEED.TO will begin its sell-off.
Step 1) Ride long on the bullish continuation upon open. Look to short from of the top 3 levels as labelled on the chart. Enter when MACD shows bullish momentum slow, preferably with a crossover, and RSI in the overbought zone.
Step 2) Short from these levels, and look to cover between the .38 - .61 range. Must look to S&P500 for signals to cover. Watch MACD for slowing bearish momentum.
Always keep your eye on volume, and avoid any weak moves in either direction. Good luck!
WEED
Step 1) Ride long on the bullish continuation upon open. Look to short from of the top 3 levels as labelled on the chart. Enter when MACD shows bullish momentum slow, preferably with a crossover, and RSI in the overbought zone.
Step 2) Short from these levels, and look to cover between the .38 - .61 range. Must look to S&P500 for signals to cover. Watch MACD for slowing bearish momentum.
Always keep your eye on volume, and avoid any weak moves in either direction. Good luck!
WEED
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