matjaz70
Short

IBM multitimeframe resistance

NYSE:IBM   INTERNATIONAL BUSINESS MACHS
30 1 2
There is a short resistance (green line), long resistance (red line), market is extended. For my point of view good short enter with good risk control.
MaryJane
5 months ago
Hey matjaz70, your short setup definetely makes sense at the moment. Your illustrated resistances are really obvious. In the higher timeframe, a short is ok - but that`s not MY personell trading style. I never fight against trends, and for me the midterm trend is the most present trend, so i watch this trend. The midtermtrend is a clear bullish pattern, a bullish flag - one of my favorite and preferred breakout Patterns. I prefer pure PROcyclical Setups, i try to avoid " anticyclical high risk" trades. At this Moment, there is no longsignal - the Signal only is valid, if IBM tardes above the flags top edge.
As Long as IBM is trading below your illustrated trendlines, a short Position has a right to exist :-)
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