I posted a JPM
chart a while back, saying that it looks bearish
because of the double top
, the long lasting divergence and the false breakout above the all time high from a long time ago. Well, that double top
turned into a triple top, and although there are not many daily bearish
signals, I like to trade these extremes, because if I am right the rewards are going to be huge. I entered short today at about 60.50$, soft stop, and a first target around 52, 53. It is a low probability trade, because I am trying to catch multi year top, but the position is smaller than usual.