jangseohee
Long

Urban Outfitters, Target Reached!

NASDAQ:URBN   URBAN OUTFITTERS INC
57 3 3
2 months ago, i posted this downtrend channel for Urban Outfitters             . My put options triggered when price hit 40.39 but 41.79 was not triggered.

(Initial two possible targets if price continue southward marked by down arrow
1st: around 34.67
2nd: around 30.45 (if 1st fails to support) without factoring time factor.)

Because the downtrend channel is a function of price and time, i actually enjoyed selling my put options lower :-)
All profits were taken at 29.06 when the big red marubozu hit the channel bottom.

Price hit another bottom after 5 weeks at 28, i turned bullish at 28.49

Note: It is advisable not to follow my aggressive 'jump-the-gun" approach as it WILL incur losses immediately before turning into profits later on, at time, substantial losses. Please do your own analysis to verify your trading decision.
triangle
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so what do you suggest i do next? :-)
monitor daily bearish divergence and short!!
lets see
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Marvelous profits
thank you to you CHANNEL
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