STAY - Rising wedge breakdown trade form $16.27 to $13
Updated
STAY seems breaking down from a rising wedge formation. Moneyflow was diverging & now crossed down to negative side. We think it can decline all the way down to $13 area.
* Trade Criteria *
Date first found- March 9, 2017
Pattern/Why- Rising sedge formation
Entry Target Criteria- Break of $16.27
Exit Target Criteria- Momentum trade, up to $13.00
Stop Loss Criteria- $17
Please check back for Trade updates. (Note: Trade update is little delayed here.)
* Trade Criteria *
Date first found- March 9, 2017
Pattern/Why- Rising sedge formation
Entry Target Criteria- Break of $16.27
Exit Target Criteria- Momentum trade, up to $13.00
Stop Loss Criteria- $17
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Trade active
March 10th - Traded into entry price, but closed at the top of the range and tagged to MA50. Wait & see situation.Note
March 13th - Spiked up to EMA 9, but closed bearish. Looking good as short.Note
March 20th - Declining nicely holding below EMA lines, and closing at the bottom of the range. Looking good as short.March 29th - Still holding to MA resistance very well. Wait & see situation.
March 30th - Another counter trend move from MA resistance. Looking very good as short.
Trade closed: stop reached
Unfortunately stopped out.
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