Entry conditions:
(i) lower share price for
CAR below the level of the potential outside week noted on 28th March (i.e.: $32.16).
Stop loss for the trade would be:
(i) above the swing high of 26th March (i.e.: above $34.05), should the trade activate.
(i) lower share price for
CAR below the level of the potential outside week noted on 28th March (i.e.: $32.16).Stop loss for the trade would be:
(i) above the swing high of 26th March (i.e.: above $34.05), should the trade activate.
Trade active
UPDATE (week ending 04-Apr): Trade officially activated 31st March, although the share price gapped down, which would've been an extremely aggressive entry into the trade. The next few days provided better share prices for entry, but with better prices came more risk that the trade were to fail (finding the appropriate balance). Respect of the 10 day MA during the week provided more confidence in the 'short' proposition with another confirmed (and more 'orderly') entry proposition on 4th April, with the share price then firmly closing below both 10 and 30 day MA's at the end of the trading week.Trade closed manually
UPDATE (week ending 11-Apr): An incredible week of action in this stock, that's for sure! For those following price action closely, a terrific exit point for profit occurred on Monday 7th April (the first trading day after the 'orderly' entry day noted in the last comment) - a gap down by almost 10% at the open is a nice gift for a new trade - never hurts to take a nice profit like that straight away and say thank you to the market. That day's trading ended up turning into a potential 'key reversal bottom', which appears to be confirming itself as such on the daily chart, with the bearish outside week noted on 28th March and confirmed on 31st March now nullified to the upside on Thursday.
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Disclaimer
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Detailed commentary/updates about trades (stocks, crypto & bonds) available:
youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
t.me/ASXTradersUnited
Like/join/subscribe for the latest!
...
youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
t.me/ASXTradersUnited
Like/join/subscribe for the latest!
...
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.