JACK/CMG: Great pair trade setup

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JACK offers a terrific short setup against a low volume resistance level , and two historical key earning levels.
The spread with CMG makes it a great candidate for a pair trade, aiming to capture the profit from both the JACK short, and the CMG long. CMG has to rally to catch up to JACK, and JACK is overextended and will revert back to the mean.
You can size each leg with 3 times the daily ATR as risk, or use a more technical stop loss derived from price action (I won't detail that in this publication though). We are in this trade, it's one of the trades I shared with my clients this week, among others.

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Ivan Labrie

Link to Tim West's chatroom: https://www.tradingview.com/chat/#c8BzrhGRvXxGXWnJ
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.

Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Comment: Spread still widens, it might be a case where fundamentals are heavily against progress of the bottom leg of the pair. Better stand aside.
Great restaurant sector minimized risk setup!
+1 Reply
Thanks, this is a very high probability trade setup.
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