Shorting Novatek

While I am still long LKOH (although I have doubts about its potential) and RIG I see mounting evidence that NVTK is topping. On all timeframes, there is a visible EW count.
Very compelling price action on 4H and D charts. If it stays where it is or goes down by the end of the week there will be a confirmation on W chart as well.

WHY: compelling PA (bars), clear EW count, divergence on indicators
Risk: 0.2% of total portfolio
Exit strategy: 50% when reaching 1/1 profit to risk ratio, the latter when retracing 0.382 of the previous high.
Duration: 6-10 months

Trade closed manually: manually closed as the price is in 4rth wave still. When closing bought 10 times more contracts more than was supposed to)). Put a stop. Will try to profit from the mistake.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter