Pattern: Upward channel support was broken to the downside, now it is retesting the support as a new resistance line. This price area has been high resistance area in the past.
Edge: Twiggs money flow trending down slightly. This is more a pure play on the pattern.
Risk Management: Entered short at $344.50. Stop loss is $353.50, PT1: $320, PT2: $300. Risking $9.00 to make $24 for PT1. Good risk to reward ratio.
Edge: Twiggs money flow trending down slightly. This is more a pure play on the pattern.
Risk Management: Entered short at $344.50. Stop loss is $353.50, PT1: $320, PT2: $300. Risking $9.00 to make $24 for PT1. Good risk to reward ratio.
Trade closed: stop reached