WDAY is trending high as indicated by the green arrows - rising lows
acording to this, price should create a higher high
also nothe the rectangle area in blue which acted as resistence and now acts as support
WDAY seems breaking down forming a double top. It is rolling over nicely, and moneyflow also turning negative. We think it will be a good hedge for all the Longs we have.
* Trade Criteria *
Date First Found- May 11, 2017
Pattern/Why- Double top breakdown, Hedge position
Entry Target Criteria- Break of $88.43
Exit Target Criteria- 1st Target $88.43, 2nd ...
WDAY looks perfectly ready to fall as it breaks down head & shoulder & there is a very high level of insider selling.
Ideal entry would be if it rally back to 75 or break below 70
we are looking to take Aug16- 70 put (4.6) or Aug16- 65 put (2.65)
Just watch this beautiful short setup guys. It could easily be false breakout and then break of trendline back to short. As always search for good entry point and manage the risk, because the idea could go wrong. But if the idea is correct, we have huge RRR opportunity here. I check hundreds of markets every day and have more tips on good trades!
Nothing is guarantee that any measured move will be achieved, but last few patterns were so successful in this security and the odds are high to achieve downside target with tight stop at recent swing high. Do ur homework before u initiate a new short position. http://www.2waytrading.com