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 180.25Trade fechado: objetivo atingido
I was stopped out of this successful trade at 180.25 for a 15% gain
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.