$RIOT – Strizz’s Room Daily Update
RIOT… I’ve seen some chatter on X about longing miners from Friday’s lows. While I can see why, I do not think it will end well for them. My best case bearish scenario is this white path into Wednesday. If this path is invalidated by crossing over the white line just above, then the yellow count becomes primary.
MACD weekly bearish cross occurred this week. The past few instances it happened with similar magnitude to now marked significant tops for this instrument. I wonder if this time will be any different?
GLTA!
System Goal:
The aim of the system is to build capital with minimal risk to the downside while locking in profits as soon as possible. If/once conditions align for bullish postures in indexes, then stops will be set a bit wider, but until then, they will stay very tight to preserve capital. Option contracts are not accounted for in the system’s performance, atm, as they are very volatile and not recommended for everyone unless they have a good grasp on how to mange positions with options.
