JD trade ideas
JD getting ready to breakout towards $30?Similar to other Chinese stocks, JD has been beaten down over the last year. However, it appears she wants to push higher out of this downtrend to a potential target of $30 per share, or the 200 day sma. I like $29 per share first since that's 1/3 back on the big weekly sell off.
The weekly chart:
Earnings are on March 3, 2019 according to Trading View so buying might occur leading up into the report.
My plan is to enter $25 March calls for $1.40 stop limit with a stop of $0.40. Risking $200 so 2 contracts. I like where the stop is placed just below all the bullish candles that had similar lows. If JD does break out, I will look to take half off at $29 per share and trail the remaining contract.
Cheers!
Head and shoulder pattern fulfillmentJD has fulfilled its first down side target after breaking down from the big head and shoulder's pattern.
It is likely for it to retrace higher to build energy for the second leg down. After a big topping formation, there is usually two legs to the down side. Now it is time to wait patiently for the corrective structure to form and then trade again on the short side.
JD conter trend not workingDescribe the trade. What you see? There will be bouce from support and price will advance to the resistance
What have I done well for this trade? there was good determine a smaler trend and according to this targets
What can I take away to help with later trades? I was under ustimate the influence of the longer trend