Trade Logic: Up trend & major Support break down Entry: 62.75 -62.83 Target: 57.27 Stop-Loss: 64.09 Option: July16, 60 Put & Oct16, 60 Put
NYSE:BG 05JUN16 - Stock looks like it is going to reverse at heavy resistance / trend channel that is in confluence with the 0.5 fib level at $69 and is heavily overbought on the RSI (80). Entry criteria: Long Position - Breakout from the downward price channel and a base of support at $69. Short Position - If we get confirming bearish candlestick...
60 Minute chart with good support and resistance good ratio of 1 : 2.5