F SHORT potential on trendline breakdown
Updated
As F breaks its minor upward trendline , a short position is entered with a tight stop.
As this trade progresses, longs would will be forced to exit, creating a potential for a steep move down, at least to the trend start around $8
Factors leading to the decision:
Medium-term upward trendline broken
A recent small retracement created a lower-high which is an ideal place to put a tight stop for the trade
As always, use a tight-stop and if it rips down, let it run and trail stops behind.
As this trade progresses, longs would will be forced to exit, creating a potential for a steep move down, at least to the trend start around $8
Factors leading to the decision:
Medium-term upward trendline broken
A recent small retracement created a lower-high which is an ideal place to put a tight stop for the trade
As always, use a tight-stop and if it rips down, let it run and trail stops behind.
Comment
Still hangin onto this trade... moved stop to 5.93Comment
Stop moved to 5.76Comment
Stop moved down to 5.29
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