There are different approaches when there is a bearish setup
Good question: There are different approaches when there is a bearish setup.
1) Close longs right away
2) Set stops determining S/R levels
3) Wait until the bearish signal is confirmed, once there is a big decline.
I personally use the second approach.
About invalidation, it happens if there is a close above the high of yesterday, it looks obvious at this moment, so let’s see how the gap up acts when the market opens.
This bullish reaction short term is likely now the macro indicators have to say the economy is in good shape.
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$Wal-Mart(WMT)$ $Target(TGT)$ $Amazon.com(AMZN)$ $SPDR S&P 500 ETF Trust(SPY)$ $E-mini Nasdaq 100 - main 2412(NQmain)$ $E-mini S&P 500 - main 2412(ESmain)$
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