Wait for the sypher to form Wait for a bullish move to figure out your entry. Look at the RSI level as well.
This is still in the making. Wait for the bearish signal to short. Short until 0.5 retracement as first target. DONT WAIT ON SECOND TARGET. IT MIGHT NOT HIT TP2 SINCE THE PICE MOVEMENT IS SOO BULLISH!!! AGAIN, WAIT ON THE CYPHER TO FORM FIRST AND LOOK FOR BEARISH SIGNAL
I have displayed the trade i took. Being conservative with the target price since Cdn GDP didnt increase as expected (just heard the news) RSI is low so right now is the good point of entry. Or else wait for the pullback. Cypher pattern is confirmed and on the dot!!!
EDUCATIONAL PURPOSES ONLY - I DONT BELEIVE THEIR WILL BE A WINDOW OF ENTRY ON THIS PATTERN
SBUX is a great company. EPS has been increasing from PY. Only down because of the sales growth. They started offering lucnh packages, that will fuel the revenue.
Same as previous chart, just shows all the notes.
Short term bearish and Long term Bull WATCH FOR EARNINGS, CLOSE POSITIONS BEFORE THAT !!! Nike has been beating earnings in the past, its only down because of the sales growth outlook. Expect NKE to beat earnings again.
Blue is resistance and yellow is support. Credit Spread entrys. No exits, you play until option expires.