-26 week horizontal range
-Declining volume
-Unsure at this stage but watching for reversal or continuation of trend
-Declining volume
-Unsure at this stage but watching for reversal or continuation of trend
Trade active:
It would appear we could have a break away gap however volume at this stage is not supporting this interpretation. None the less I have taken a short at 3.34 for 50 basis point risk. Planning an additional 50 if price does not run away.
Comment:
A minor head & shoulders interpretation with a retest of the neckline within the confines of the larger pattern could support the short side bias but that could be somewhat arbitrary
Comment:
Additional 50 basis points for 100 basis point risk
Comment:
Comment:
Schabacker goes on to say, "Break-outs which are obviously the result of only a normal ex-dividend correction should, of course, be disregarded, and the subsequent price action watched to determine the true technical trend"
For sake of disclosure
For sake of disclosure
Comment:
Stopped out of initial tranche, Risk down to 50 basis points
Trade closed: stop reached