DKNG SCALP OR DAY TRADE - SHORT TERM CHANNEL PLAY BOTH SIDES!
DKNG has a lot of price action on the bottom half of this channel.
Use 30 min time frame for entry and exit.
SHORT SIDE
Based on this, short term analysis, DKNG is at an uncomfortable level and will retrace down to bottom, at it's comfort zone.
Confirmation: stoch crossing below 80, and bearish candle.
EXTRA confirmation - Volume below 20 MA. As long as volume stays below 20 MA, trend bearish.
Or jump the gun, and hop in now.
Key level of support area is around 62.95 Watch for bounce or break. Break, next support is bottom of channel at 61.45.
LONG SIDE - Set STOCH OS to 40 instead of 20.
Wait for bounce on bottom of channel.
Confirmation = bullish candle and increasing volume over 20 MA.
Cross up 40 on stoch.
Play to upside of channel.
First area of resistance is middle line at 63 range.
DAY TRADE or Scalp - Moves pretty fast in this channel.
Use 30 min time frame for entry and exit.
SHORT SIDE
Based on this, short term analysis, DKNG is at an uncomfortable level and will retrace down to bottom, at it's comfort zone.
Confirmation: stoch crossing below 80, and bearish candle.
EXTRA confirmation - Volume below 20 MA. As long as volume stays below 20 MA, trend bearish.
Or jump the gun, and hop in now.
Key level of support area is around 62.95 Watch for bounce or break. Break, next support is bottom of channel at 61.45.
LONG SIDE - Set STOCH OS to 40 instead of 20.
Wait for bounce on bottom of channel.
Confirmation = bullish candle and increasing volume over 20 MA.
Cross up 40 on stoch.
Play to upside of channel.
First area of resistance is middle line at 63 range.
DAY TRADE or Scalp - Moves pretty fast in this channel.
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