11/3/2019 Stocks reach all time highs, and I was stopped out for a loss. If indexes don’t break below the breakout spot within a couple weeks, expect it to continue trending higher.

Hi everyone. Indexes made new all time highs this week, and my quick short trade was stopped out for a loss. Thinking back on it, I think my stop loss was a bit too close considering the extra volatility indexes have near new highs.

QQQ Weekly 11_3_2019.JPG

Notice how the last 2 of 3 times the index made new highs, the index only went a little higher than the previous high before pulling back significantly. My short trade was banking on the double top pattern as seen in the middle circle above.

If we get any sort of selling pressure in the next week, I will consider going short again with a larger stop loss this time.

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