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CHMA short entry on break of upward wedge
As CHMA breaks its upward wedge pattern, a short position is entered with a tight stop.
Factors leading to the decision:
As always, use a tight-stop and if it rips down, let it run and trail stops behind
Factors leading to the decision:
- Huge rejection at the ATH, creating a new major down-trend
- Lower trendline of an upward wedge has been broken
- Heavier bearish volume showed up at prior dip, getting the attention of short sellers
- Price came back up and re-tested the trendline and was rejected. This creates a lower-high which is an ideal place to put a tight stop for the trade
As always, use a tight-stop and if it rips down, let it run and trail stops behind
Nota
Still hangin onto this trade... moved stop to 4.57Nota
Target moved to 2.50
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.