$SMH bounce today and across all semis was not surprising. Reaching a crucial horizontal support along an upward trendline dating back to April 2025.
IMO bulls have more hurdles to clear than bears for the trend to be clear.
Regardless, itβs stuck between upward and downward trendline, so quick trades, small sizing and risk management is key.
@WohlstandsWal Boy am I lucky I was passively investing during those years and not stuck into the meme coin mania. Make lots of millionaires and lost just as many
Well here we go again.
4/4 trades missed π this one is on me as I was not watching the chart and spotted it around an hour too late.
Had a 15 minute confirmation as well and was a clean 1:2 R:R.
Part of me is happy because the bias was right again, but the other part is frustrated that itβs another missed trade.
Setup brewing for $GBP.USD.
Bearish BoS, entering OTE. Lower time frame watching for a CHoCH.
Stop above high and targeting low.
Ideally I can get over 2.5R for this trade.
If not it might be a skip as $NZD.USD is having a similar setup.
$SMH could be forming a potential double bottom here on the 200EMA and golden retrace. While also at the upward trendline that dates back to the March lows.
Itβs getting to squeaky bum time as losing these levels could set off more panic alarms and send a lot of Semis for another leg lower which could form a potential Wave C.
The time to be long isnβt now. Wait for the dust to settle and be highly selective and quick with your trades if you do decide to go long here.