EBAY
I love shopping on eBay so I won’t enjoy this one as much.
Daily chart analysis
After reaching all-time highs back in Q4 2021, eBay entered a downtrend (under 200ema) for most of 2022.
So far thru 2023, price has pulled back (to 200ema) and has been moving sideways (Distribution stage) in form of Head and Shoulders pattern.
Want high probability trades? Trade patterns that coincide with the trend.
Head & Shoulders pattern (Bearish pattern) + Downtrend (Bear market) = High probability short trade
The neckline has yet to be broken but the current price gives us a nice risk/reward entry.
This is my cue to enter trade short.
Entering trade short.
Entry: 43.25
Stoploss: 48.25, -11.56%
Target: 27.65, +36.07%, 3.12 RR ratio
I love shopping on eBay so I won’t enjoy this one as much.
Daily chart analysis
After reaching all-time highs back in Q4 2021, eBay entered a downtrend (under 200ema) for most of 2022.
So far thru 2023, price has pulled back (to 200ema) and has been moving sideways (Distribution stage) in form of Head and Shoulders pattern.
Want high probability trades? Trade patterns that coincide with the trend.
Head & Shoulders pattern (Bearish pattern) + Downtrend (Bear market) = High probability short trade
The neckline has yet to be broken but the current price gives us a nice risk/reward entry.
This is my cue to enter trade short.
Entering trade short.
Entry: 43.25
Stoploss: 48.25, -11.56%
Target: 27.65, +36.07%, 3.12 RR ratio
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