As HES breaks its minor upward trendline , a short position is entered with a tight stop.
As this trade progresses, longs would will be forced to exit, creating a potential for a steep move down, at least to the trend start around $43
Factors leading to the decision:
The bad news is there's no recent retracement to tuck a stop above... so the stop on this trade is a big wider than I like, and it will be inside the trend around $62.50
As always, use a tight-stop and if it rips down, let it run and trail stops behind.
As this trade progresses, longs would will be forced to exit, creating a potential for a steep move down, at least to the trend start around $43
Factors leading to the decision:
- Price was rejected trying to make a new high in November, creating a new major downtrend
- Medium-term upward trendline broken, so now we look for downward continuation
- Very heavy volume on the bar that broke the downtrend
The bad news is there's no recent retracement to tuck a stop above... so the stop on this trade is a big wider than I like, and it will be inside the trend around $62.50
As always, use a tight-stop and if it rips down, let it run and trail stops behind.
Dagangan ditutup: hentian tercapai
Stopped out on a V reversal
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.