240 broken. should we sell?
If you can stomach it sell at 222 - it would be wise to average down as it falls.
Before entering a trade always have an exit plan!
Agreed. Nothing is sure, but volatility can shake out the weak hands. Our thesis could be wrong or we may have the wrong timing, in which case we lose stopped out in the $220s. If our thesis is correct, we loaded up in the $230s and maximize ROI selling in the $300s.
We rose off a base of very low volatility which every time in the past has corresponded to a significant rally. If volatility is rising, it can also be on the downside flag, midway through the rally.
I will LMAO when we breach $300 and then stabilize above it never to see below again.