With the market moving like this, my eyes are sore from staring at the charts. I wonder how many of you are in the same boat—I’m really hesitant to make any moves right now. $SKHYB is currently trading at 146.27, up five points over the past 24 hours. It hit a high of 148.65, then plunged to a low of 137.97. Nearly a ten-point swing—exciting to watch, but tough to trade.
Structurally, 148.65 is clearly acting as resistance. The price tested it once today but failed to hold above it and pulled back. The 137.97–140 range is a short-term support zone, where buyers have stepped in before. The price is now stuck in the upper-middle of the range—a rather awkward spot, with no clear direction.
My approach would be not to chase the price here. If it were up to me, I’d wait for a pullback to around 140 and see whether it can hold. If it breaks below the 137.97 low, I’d rather stay on the sidelines for now and wait for the structure to become clearer. With swings like these on $SKHYB , get the timing wrong and you can get battered in both directions.
If it were you, would you wait for a pullback around 140, or keep waiting for a confirmed breakout above 148.65?
If you’d like to see my follow-up reviews of live trades, remember to follow me. I’ll help you read the real market structure every day. Open the $SKHYB chart and take a look at the candlesticks yourself—the price levels will make more sense.
Personal trading journal, not investment advice.
Structurally, 148.65 is clearly acting as resistance. The price tested it once today but failed to hold above it and pulled back. The 137.97–140 range is a short-term support zone, where buyers have stepped in before. The price is now stuck in the upper-middle of the range—a rather awkward spot, with no clear direction.
My approach would be not to chase the price here. If it were up to me, I’d wait for a pullback to around 140 and see whether it can hold. If it breaks below the 137.97 low, I’d rather stay on the sidelines for now and wait for the structure to become clearer. With swings like these on $SKHYB , get the timing wrong and you can get battered in both directions.
If it were you, would you wait for a pullback around 140, or keep waiting for a confirmed breakout above 148.65?
If you’d like to see my follow-up reviews of live trades, remember to follow me. I’ll help you read the real market structure every day. Open the $SKHYB chart and take a look at the candlesticks yourself—the price levels will make more sense.
Personal trading journal, not investment advice.