I did successfully locate a Support level on MSFT (1h) from 113.15 - 116.12 (The green marked area) but i did Fail with locating a Resistance level. If this bearish position goes as planned, it should reach above 120.80 but im not taking that large of a risk so I'll place my stop profit on 120.80 (the yellow line) and stop loss on 116.12.
Keep in mind if you plan to use any of this information, this is a pretty sloppy Analysis so remember to do your own Analysis no matter how probable someone's Analysis seems.
Keep in mind if you plan to use any of this information, this is a pretty sloppy Analysis so remember to do your own Analysis no matter how probable someone's Analysis seems.
Trade closed: stop reached:
MSFT had a pretty large drop in price, I didn't really receive any major losses but I did close my position because of the identified resistance level at 120.01.
Trade closed: stop reached:
damn... guess my stop loss was way to high up.
Comment:
I don't really feel bad about it. My analysis was still right.