IsItCoffeeYet
Short

Bearish Descending Triangle on Ryanair (RYAAY)

NASDAQ:RYAAY   RYANAIR HOLDINGS PLC
Ryanair (RYAAY) is showing a descending triangle with declining volume and volatility suggesting decreasing trader interest. We anticipate a descending triangle to break explosively to the downside.

Trade Plan: Sell a daily close below 61.82 if the volume equals or exceeds the volume average. Use 1/2 size to reduce risk if the volume is at least 75% of the average.

The Stop Loss 1.5 x ATR on the breaking candle above the entry.

The First Target will be 1.0 x ATR on the breaking candle below the entry.

If, after entry and before the first target, a candle closes back in the triangle, close the trade (don't wait for it to hit the stop loss.)

At first target, close 1/2 of your position and move stop loss to break even on the remainder.

Follow the stops as long as the trade continues in your direction.

Comments

Mr O Leary not to happy with BA yesterday.
+1 Reply
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