So I was randomly trolling charts to practice technicals, I stumbled upon this company. I know absolutely nothing of the company or what it does...although using sleuthery I can assume Real Estate. I started running trendlines, fibs, and a top down approach. Looking at the Monthly: there is a huge "shooting star" candle. Weekly: a bearish engulfing setup , Id be looking for a tight move here. I would want price to come back up to 61.8% fib of the current push down, the rest is laid out in the post. 1-2% risk 2:1 RR - Happy Trading.
Comment:
keep on keepin' on.
I moderate a small community 4 traders, analyzing weekly charts, and discussing trade setups. Focusing on psychology.