Well this isn't such a well favored R/R ratio but I am still taking the short due to the strength of the bearish trend in this stock. Which makes up for the unfavorable R/R in the trade. Depending on D1 Chart price action I will be slowly trailing the stops down, thus eventually making R/R a lot more favorable. Price targets are at the next weekly support area. Stops are going to be placed at the previous support turned resistance area.
Cheers, and best of luck to all in the trading week that's coming up ahead.
Do note, that the U.S. equity market is closed on Monday so depending on how we open on Tuesday will ultimately define whether the trade is entered or cancelled.
Cheers, and best of luck to all in the trading week that's coming up ahead.
Do note, that the U.S. equity market is closed on Monday so depending on how we open on Tuesday will ultimately define whether the trade is entered or cancelled.
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Haven't been on T.V. in a while but the trade was partially closed manually i believe it was last week and the rest got stopped at B/E on the retracement to broken support turned resistance. Waiting for another opportunity to enter short once again. =)