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Yelp Inc.
Long
Updated

Yelp - flag pattern, volatility contraction

107
YELP
Yelp's all major timeframes are tempting:
  • weekly: it has recently broken long-term resistance. Now it is being tested. If it holds, there is a potential to go much higher.
  • daily: holds support at around 39.70. Great volume pattern - a pullback on declining volume.
  • 15m: the volatility is contracting, accumulating energy for the next move. The price sits right on VWAPs from recent highs and lows.
If the price breaks the recent high VWAP then my plan is to go long with the SL below Monday's low (12th Apr) - 39.12 - that is 1,5ATR below that low.
Trade active
entry price triggered
Note
moved the stop below high lower - that is today's first candle (5min) low.
Trade closed: stop reached
stopped out, took 0.25R loss
sl-wk
FlagSupport and ResistanceVolatility

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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.
FlagSupport and ResistanceVolatility
sl-wk

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.