Several Signs Point to Down Turn for GIS
Updated
I like several items for this down turn.
- Topped out on a respected trend line.
- Oversold on the RSI which has acted as a good signal previously.
- Volume profile leads me to think a return to the Point of Control is coming.
R/R is Solid here with a stop at 77 and a profit target of 70.
- Topped out on a respected trend line.
- Oversold on the RSI which has acted as a good signal previously.
- Volume profile leads me to think a return to the Point of Control is coming.
R/R is Solid here with a stop at 77 and a profit target of 70.
Comment
Big gap down today. I wasn't in the trade at this point so I missed a good $2 move. I will look at this in the morning. I may grab some puts if it looks good still.Order cancelled
After the gap down and the falling knife on the 18th I'm all done with this idea. I'm happy with my identification of the trade and this gives me more confidence on my next idea. Also pleased with my self control and not letting FOMO get me into a play that is past it's prime. Moving on to the next opportunity. Thanks for viewing.Disclaimer
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