Wow. I just pulled up this chart from a news mention...what an impressive run up indeed. Bravo MSFT. I am seeing a few reasons this parabolic climb may struggle to continue.
1. Parabolic
2. MACD Divergence present on the monthly chart
3. High Wave candle and other reversal patterns present.
4. RSI overbought.
I see you can short this in various Inverse ETF's I may look at those this week?
1% Risk, 2:1RR - Happy Trading!
1. Parabolic
2. MACD Divergence present on the monthly chart
3. High Wave candle and other reversal patterns present.
4. RSI overbought.
I see you can short this in various Inverse ETF's I may look at those this week?
1% Risk, 2:1RR - Happy Trading!
Comment:
There is now a 3 candle pattern present, it's a technical short. I would say this is an "Evening Doji Star" pattern, I see it as confirmation. Let's see.
Comment:
lofty,
Comment:
I did try to short a tech ETF to get this short...I was washed out (a few weeks ago) of my trade, risk controlled and have continued to watch this fly. Keep on keeping on I guess.
Trade closed: stop reached
I moderate a small community 4 traders, analyzing weekly charts, and discussing trade setups. Focusing on psychology.