Potential short with 65 Jan 2017 PUT at $1.0
Video Link:
www.danv-charting.co...CzzpDz6ILyo27j3.html
Summary of Technicals:
• Broader market in potential early stage of topping.
• Honeywell, appear to have completed wave 5 with minor 5 waves.
• It has been weaker that the Nasdaq since April 2014 even though it continued higher till Feb 2014 putting in very bearish high wick candle suggesting penitential reversal.
• RSI divergence with price on Monthly chart as can be seen below.
• Anticipated drop to 90 would give us 100% return. If it drops to 70 - 80 we could expect 4 - 6 times our initial risk.
Warning: This is my interpretation of price action using TA approach that I consider helps me most but could be completely wrong. Therefore as always, do your own analysis for your trade and manage the risk management. You should follow this on Paper Trading Account till you feel confident to apply the skill to live account.
DanV
danv-charting.com
Video Link:
www.danv-charting.co...CzzpDz6ILyo27j3.html
Summary of Technicals:
• Broader market in potential early stage of topping.
• Honeywell, appear to have completed wave 5 with minor 5 waves.
• It has been weaker that the Nasdaq since April 2014 even though it continued higher till Feb 2014 putting in very bearish high wick candle suggesting penitential reversal.
• RSI divergence with price on Monthly chart as can be seen below.
• Anticipated drop to 90 would give us 100% return. If it drops to 70 - 80 we could expect 4 - 6 times our initial risk.
Warning: This is my interpretation of price action using TA approach that I consider helps me most but could be completely wrong. Therefore as always, do your own analysis for your trade and manage the risk management. You should follow this on Paper Trading Account till you feel confident to apply the skill to live account.
DanV
danv-charting.com
