X Contrarian
Updated
X has had a long movement down, analyst targets downgraded, labeled as a strong sell, shorts picking up, etc. However RSI is showing bullish divergence. Going to take a shot at a contrarian trade here. Going to put the target at the convergence of
Which is around $13. This one has a wide-ish stop in case the price hits the bottom of the triangle again.
- Top of Ichi cloud
- SMA100 projection
- Fib Level
Which is around $13. This one has a wide-ish stop in case the price hits the bottom of the triangle again.
Trade active
Price plunged from nearly $11, Active at 10.18.Trade closed: stop reached
Up to this point I've just been sitting through the ups and downs. Decided to try a 0.4 trailing stop the other day at the peak. Thinking it would provide some buffer for a retracement if it has steam to keep going up, but take profits if this is it.The trailing stop triggered at $12.18. Nice $2 ~20% gain. Will continue to watch to see if I jump in again.
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