AdamHong
Short

The Downward Channel and the Breached Strong Support Pullback

NASDAQ:YY   YY INC - AMERICAN DEPOSITARY SHARES
The price of the YY             has moved along the downward channel well in week frame chart,and the upper edge of the channel has being hit now,so will the channel still work?
The strong support of 52 levels was breached and it converted into the stong resistance.Now the price is pulling back.
The Pinbar and Cross Star of week candles have appeared in this zone.
So it is a good chance for opening short positions at 52-55 levels
SL:above 60
TP1:33
TP2:25 and even more
Trade active
Comment: The market moves as expected.
snapshot
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