TECH recently broke its major upward trendline, creating a short trade possibility with a small risk and high reward.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 $190
Factors leading to the decision:
- Price was rejected trying to make a new high in January, creating a new minor downtrend
- Heavy volume as it broke the upward trendline
- Today (entry day) price came up to re-test the trendline and was rejected
- Price has crossed and held below the 20ma two weeks ago
- Two recent high fractals offer great places for tight technical stops
As always, use a tight-stop and if it rips down, let it run and trail stops behind.
Nota
Still hangin onto this trade... moved stop down to 180.25Dagangan ditutup: sasaran tercapai
I was stopped out of this successful trade at 180.25 for a 15% gain
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.