Alexey_Malorodov

FIRST INDUSTRIAL REALTY TRUST

Long
NYSE:FR   FIRST INDUSTRIAL REALTY TRUST
NYSE:FR

Hi, traders!
Lets take a look at the paper I picked up for trading on Tuesday.

From March 24th, it finished its fall and was led upwards.
On April 09, it was the first time it encountered a level formed by an upper retracement in a downtrend.
On April 14, the instrument tested the level again, but failed to take it: made a false breakout of only 4 cents, the instrument broke the SL of small retail short players.

But here's the analysis and logic of what was going on next: a large short player triggered the SL of the small short players - he sold the paper to the market shortsmen at an advantageous price, as a result, the price can not get fixed above the level and goes down, returning to the short zone.
On the same day we fall, and then - gap down.

Since April 15, there is a rivalry between the big long player and the short player: the price goes up and down.

On April 28, the long player starts to win and raises the price to 38.68, but he cannot hold it. We see the fall again.

Since May 14, the price has grown by 12%. We hit the level of 36.53 and can not overcome it.
I expect a series of close retests and a struggle for the level and will join the one who wins in this fight, but I am sure it will be a long player.
I leave it on the list and waiting for the level to work out.

Trade wisely!

Order cancelled: the direction is determined correctly.
I count as a plus to the statistics by direction.
No entry point because of the gap.

Comments

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