Here is a review of my stopped out trade review on ELF with a 1:3 risk to reward thesis.
Bearish
Fundamental - High PE - Negative PEG - Negative P/ FCF - One must note beauty and cosmetic related products are always top of the chart in the online business / Lazada / Shopee
Technical - Price broke down 2 years upward trend line with a long wick rejected - Momentum theory indicator was seen under the water - Price further broke down forming a M top / channel
Entry idea - Entry idea was based on few confluences - Rejection / retest of the trend line - Rejection on 0.5 fibo - Price below 200 MA
Stop loss set on 0.786 fibo level which within 1% of my trading capital and got stopped out.
Trading performance should always be based on how well you trade on the outcome of a single trade.