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zukedu
Sep 25, 2019 12:07 PM

NLSN Short on Descending Channel Short

Description

- Selling volume is higher than buying volume near upper resistance
- Buying volume stagnant near resistance. Shows lack of buying interest to break the upper resistance
- EFI negative
- Stoch near overbought levels
- Gap down indicating selling pressure coming in
- Resistance breakout attempt tested and failed couple days ago
- 2R profit target is not too near the lower support

Order cancelled

Canceled entry order for now because of the green candle on 25th Sept with volume relatively similar to the seller volume the day before.
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