Short Entry: 90.81 as XOM Stalled and reversed after making a wedging rally into the peak of a potential right shoulder and also into the 50 day moving avg.
Stop: 93.30
Risk: 2.49 (2.75%)
Objective: 85.75
Reward: 5.06 (5.28%) 2
Stop: 93.30
Risk: 2.49 (2.75%)
Objective: 85.75
Reward: 5.06 (5.28%) 2
Comment:
Moving Objective to 83.30 level aiming for and Undercut of previous lows. I would look for a long Undercut & Rally after it hits the objective. New Reward/Risk Ratio: 3 to 1
Comment:
Covered after pocket pivot breakout on the 5 min. Looking for better and new short entry.