CLM Trade Setup – Bearish Engulf After Distribution
CLM remains locked in a steep downtrend and the broader stock market is also showing signs of weakness. That combination can often produce continuation moves.
The most recent candle printed a large bearish engulfing move (see curved arrow), which typically signals that downside momentum may continue.
Looking back at the structure, CLM also appears to be moving through the 1.618 distributive extension, calculated using the extremity pivots of the distribution range.
When price pushes through the 1.618 in a strong trend, it will often continue toward the next Phi-based extension, which in this case sits near the 2.272 level.
That zone becomes the next logical downside target.
A move from the current price into the 2.272 extension would represent roughly a 5% downside move.
Trade setup:
Entry: Current price
TP: $6.76 (2.272 extension)
SL: Close above the 10-day moving average
Not advice.
The most recent candle printed a large bearish engulfing move (see curved arrow), which typically signals that downside momentum may continue.
Looking back at the structure, CLM also appears to be moving through the 1.618 distributive extension, calculated using the extremity pivots of the distribution range.
When price pushes through the 1.618 in a strong trend, it will often continue toward the next Phi-based extension, which in this case sits near the 2.272 level.
That zone becomes the next logical downside target.
A move from the current price into the 2.272 extension would represent roughly a 5% downside move.
Trade setup:
Entry: Current price
TP: $6.76 (2.272 extension)
SL: Close above the 10-day moving average
Not advice.
Trade aktif
Must learn to type faster… markets are moving quickly today!BOOST or comment with your view 👍.
Trading ditutup: stop tercapai
Broker I use: Vantage ✨
vigco.co/la-com-inv/8g5DVv78
Private Group | $50/month 💡
Contact | t.me/ThinkFastTrading
vigco.co/la-com-inv/8g5DVv78
Private Group | $50/month 💡
Contact | t.me/ThinkFastTrading
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Broker I use: Vantage ✨
vigco.co/la-com-inv/8g5DVv78
Private Group | $50/month 💡
Contact | t.me/ThinkFastTrading
vigco.co/la-com-inv/8g5DVv78
Private Group | $50/month 💡
Contact | t.me/ThinkFastTrading
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.