Just closed out the FIL long position. Took a look at the Bollinger Envelope performance, and the upward momentum is clearly insufficient right now. From a technical perspective, there's still quite a bit of pressure. In the short term, PA(Price Action) hasn't shown any clear breakout signals. The risk-reward ratio for continuing to hold didn't seem worth it, so I decisively exited. This FIL bounce may need more time to build momentum. I'll wait and see if there are clearer long opportunities ahead before getting back in.
Just closed out the FIL long position. Took a look at the Bollinger Envelope performance, and the upward momentum is clearly insufficient right now. From a technical perspective, there's still quite a bit of pressure. In the short term, PA(Price Action) hasn't shown any clear breakout signals. The risk-reward ratio for continuing to hold didn't seem worth it, so I decisively exited. This FIL bounce may need more time to build momentum. I'll wait and see if there are clearer long opportunities ahead before getting back in.