EBAY
As with the NTFLX, EBAY grew after the SPY.
What's on the chart:
1. We have a strong resistance level 50
2. The level is reinforced with a round number.
3. The naked eye can see that the short player entered the fight on June 4 and has been holding the level ever since.
4. On June 23 there was a level retest, but could not take it.
5. We rolled back down, but went up again to the close retest.
6. If the market goes up today, maybe the level 50 will be taken.
There are two ways to trade:
1. Aggressive scenario:
Entering the break-down by placing a Buy Stop before opening.
2. Safe Scenario:
Entering the longitude only after the first false breakout. Wait for the price to go back to the level and only then place the Buy Stop. SL order to place for the first break-down bar.
Trade closed: target reached