HOOD
Since going public in Aug 2021, HOOD found itself moving sideways and making lower highs into support area at $40 area until Oct.’21.
Price went on to break down from this descending triangle and enter a strong downtrend respecting the 20ema.
Price fell from $40 to $10 where it found support.
Between late Jan.’22 thru present date, price has been making lower highs into support area @ 10.
The current bearish descending triangle in current downtrend is my cue to enter trade short.
Entering trade short.
Entry: 10.94
Stop loss: 12.79
Target: 5.00- +54.30%, 3.21 RR ratio or will trade 10ema
Since going public in Aug 2021, HOOD found itself moving sideways and making lower highs into support area at $40 area until Oct.’21.
Price went on to break down from this descending triangle and enter a strong downtrend respecting the 20ema.
Price fell from $40 to $10 where it found support.
Between late Jan.’22 thru present date, price has been making lower highs into support area @ 10.
The current bearish descending triangle in current downtrend is my cue to enter trade short.
Entering trade short.
Entry: 10.94
Stop loss: 12.79
Target: 5.00- +54.30%, 3.21 RR ratio or will trade 10ema
Trade closed: stop reached:
Exit: Stop loss: 12.79
Trade active:
Reentered trade
Entry: 13.44
Stop loss: 15.99
Target: 5.00- +64.46%, 3.12 RR ratio
Entry: 13.44
Stop loss: 15.99
Target: 5.00- +64.46%, 3.12 RR ratio
Trade closed: stop reached:
Stop loss: 15.99