TOWN short trade on trendline break

١٢ مايو ٢٠٢٠

TOWN broke its recent upward trendline today, creating a short trade possibility with a small risk and high reward.

Factors leading to the decision:

• Major trend is down
  
• Minor trend was up, and today price broke and closed below it
  
• 20-ma was recently lost, pulling moving average traders off the sidelines
  
• The recent high fractal pattern is also at the 20-ma and offers a perfect technical spot for a tight stop
  

As always, use a tight-stop and if it rips down, let it run and trail stops behind.

٢٦ مايو ٢٠٢٠

أغلقت الصفقة: تم الوصول لوقف الخسارة

This trade was stopped out for 1.3 points