Shouldn't be a hard trade for this one, I have 75% confidence on this short.
For mid-term traders, Citigroup looks like a great short opportunity. It follows the Fib Extension very well by now.
Various reasons for saying Short:
1. Weekly Chart shows the first Red candle after multiple weeks rally straight yolo swag up.
2. MACD topped, RSI oversold, Stoch RSI oversold, even my MFI breached the top(yeah baby)
3. I'm not good at Harmonics patterns, but this looks like a great Bearish pat or butterfly or whatever the animal is.
Targets shows on the chart
TP 1: 55.25...0.786 on fib
TP 2: 50.46...slightly lower than 0.618 fib, reason why is previous support line (red) is there and pervious small support and resistance(2 tiny yellow boxes) all mixed at that price.
I'll starts accumulating at tomorrow intraday high.
Trade at your own risk.
Here's your tater tots~~
For mid-term traders, Citigroup looks like a great short opportunity. It follows the Fib Extension very well by now.
Various reasons for saying Short:
1. Weekly Chart shows the first Red candle after multiple weeks rally straight yolo swag up.
2. MACD topped, RSI oversold, Stoch RSI oversold, even my MFI breached the top(yeah baby)
3. I'm not good at Harmonics patterns, but this looks like a great Bearish pat or butterfly or whatever the animal is.
Targets shows on the chart
TP 1: 55.25...0.786 on fib
TP 2: 50.46...slightly lower than 0.618 fib, reason why is previous support line (red) is there and pervious small support and resistance(2 tiny yellow boxes) all mixed at that price.
I'll starts accumulating at tomorrow intraday high.
Trade at your own risk.
Here's your tater tots~~
Comment:
On 2. I mean RSI and Stoch RSI overbought...not oversold...
Comment:
Trade closed: target reached:
1st target 55.25 hits this morning at opening, close 70% of my Citi shorts and will set the rest of them at break even
Trade closed: stop reached:
rest 30% of my Citi shares hit on my SL..trade close