Rockwell Automation: Listen. Think. Short !!!
I don't particularly enjoy selling stocks that i think are a long term buy however its screaming at me to get short:
A. Bear Range Recoil
Range set from Jun-Oct'15 98.50-128.50. Broke south on first wk of this year.
B. Trend line support break
on the penultimate test of the lower range we broke a long term trend line set up from 2009.
C. We are sat under former resistance level at 118.50 and at the same time formed a H&S shape using the broken long term trend line as its neckline.
D. Break of 110.45 will set weekly leaf pattern (as well as taking out the neck line as mentioned in C).
A. Bear Range Recoil
Range set from Jun-Oct'15 98.50-128.50. Broke south on first wk of this year.
B. Trend line support break
on the penultimate test of the lower range we broke a long term trend line set up from 2009.
C. We are sat under former resistance level at 118.50 and at the same time formed a H&S shape using the broken long term trend line as its neckline.
D. Break of 110.45 will set weekly leaf pattern (as well as taking out the neck line as mentioned in C).
Trade active:
Short at 110.37
Comment:
Will add on gap fill of 111.65
Comment:
Currently in process of filling 111.65 gap but noted there are more holes in this story... see below
Trade closed: stop reached:
Wrong on this one... stopped out
