NYSE:ASH   ASHLAND GLOBAL HOLDINGS INC
Ticker: ASH
Direction: SHORT
Entry Price: 115.56
Current Price: 111.04

Description of Chart:
Entered this short as it was getting towards the upper end of an upward sloping channel, it was looking like it was topping out so entered short. Using bollinger bands helped in this case as you can tell when price is starting to fade and when it no longer wants to push higher, this was one of those moments. We are getting very close to our target however there is a possibility of pushing back to our entry, with bollinger bands somtimes it is the case where we will hit the middle line (brown average line) and break through, so keep an eye out. You can move your SL to breakeven to reduce the upside risk if you would like. Still a few more points down in my book though. If we get a break through our TP and support zone at 108.81 then you can look for a retest of the 50MA or the bottom end of the upward trending channel (blue line).

You can view all of my charts on my website if you are interested in a certain product. I also run a PAMM account that you can join, it is where you invest into an account managed by myself and I make the trades to make you profits.
Website: http://www.lukelehepuu.com
Comment:

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