NYT
Hey, Treaders.
It's time to look at the New York Times stock.
I've been watching it for a long time.
What's on the chart:
1. Since April 23, the instrument has been growing intensively.
2. On June 17, reaching a historical maximum, the instrument appeared a strong short player, which stopped the growth at 43.26.
3. On June 19, the buyer made another attempt to break through the level, made a close retest, but failed to take the level.
4. There was a retreat to the lower level of the channel. The border is mirrored.
5. But here is an important observation: despite the fact that the lower support level was tested, the tool did not enter the short area.
6. Let's see further: the upper resistance limit has been tested several times with a false breakouts and we see that the instrument is being redeemed again.
7. At the last trading session the price was raised and pressed against the level.
It is a safe scenario:
We wait for the level to breakout, fixation and enter a long after retest.
SL is placed under the breakout bar.
Aggressive scenario:
Enter the long in a breakout bar.
SL is placed under the level.
Trade closed: target reached