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patrick186
Aug 21, 2016 3:59 PM

McDonalds H&S confirmation Short

McDonald's CorporationNYSE

Description

We have quite the H&S confirmation signal here with the weekly close below the weekly 50/60 ema aswell as the neckline. Obvious short play and should be an easy 3.3%

Stop is protected behind daily 200/250 ema + fib retrace. If price pulls back into the week for a retest of daily resistance I may add to the position.

Trade closed manually

Ended up closing this when daily bottomed out and pointed towards a bullish move back up to support. Figured I could get double confirmation with a retest of support + a tighter position to squeeze out some extra profit. Actually going to let this one go and focus on DJI, AAPL, GOOGL, and TWTR
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