Short
Short in PETM
There are several reasons to enter this trade:
1) it's a failed breakout long after first break of a bear trend line
2) it's second entry short
3) it's a two bar reversal after the market has trapped bulls (bear bar is 4 cents higher than bull bar)
Ideally, should work all the way to the bottom of a bear channel around 64-65 area (and with >50% probability breakout lower on the other side of a channel later)
1) it's a failed breakout long after first break of a bear trend line
2) it's second entry short
3) it's a two bar reversal after the market has trapped bulls (bear bar is 4 cents higher than bull bar)
Ideally, should work all the way to the bottom of a bear channel around 64-65 area (and with >50% probability breakout lower on the other side of a channel later)
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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.