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gsotolongo
May 7, 2020 12:54 PM

Short sale after hitting resistance Short

Vista Outdoor Inc.NYSE

Description

From the Monthly chart we see a downward trend pattern continuation, more of an AB=CD type of pattern. VSTO also reported earnings today. I entered a short trade yesterday @ the 1H chart when I realized it.

Trade active

Took 75% out @ price 7.86 which it was way further than my 1:3 ratio goal; of course I had previously moved my TP further down since I saw how much it had gone down pre-market.... Then, moved my SL to around 9.03


Letting ride now....

Trade closed: target reached

Went further down to my TP @ 7.36...
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