CVS Currently Offering Another Short Opportunity

٩ مايو ٢٠٢٢

The CVS short I posted in February turned out well. Here we see price retesting highs before a likely rejection. The difference now from February is that we are not just taking a trade off long term resistance, we are doing so after a downtrend has now been validated on the weekly. This is actually a better trade from a likelihood of successfully hitting PT1. Position size should be determined by the width of the stop loss. So, a stop at the high would justify a smaller position than a stop a bit lower.