HOOD
This garbage has been in a downtrend since it went public.
After reaching low of about 6.88, price pulled back to 11.00 where it ran into resistance.
A Double top pattern as now formed with a neckline at 9.25.
There is also a bearish MACD divergence with the price action.
Looking for price to break thru neckline and continue downtrend.
Taking swing trade to previous lows.
Entering trade short.
Entry: 9.32
Stop loss: 11.56
Target: 6.90, +25.97%, 1.08 RR ratio
This garbage has been in a downtrend since it went public.
After reaching low of about 6.88, price pulled back to 11.00 where it ran into resistance.
A Double top pattern as now formed with a neckline at 9.25.
There is also a bearish MACD divergence with the price action.
Looking for price to break thru neckline and continue downtrend.
Taking swing trade to previous lows.
Entering trade short.
Entry: 9.32
Stop loss: 11.56
Target: 6.90, +25.97%, 1.08 RR ratio
Trade closed: stop reached
Stop loss: 11.56Trade active
Reentering. Price fell back below 11.00 support/resistanceEntry: 10.97
Stop loss: 13.26, -20.88%
Target: 6.90, +37.10%, 1.78RR ratio
Note
cant give up on a trade when the analysis is on point
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.
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.