$BEKE Descending Triangle
Updated
Afternoon all, I'm trying to get into trading and would love some opinions.
I have been looking at the daily chart for
BEKE and believe we could be looking at a descending triangle (in Orange) for a potential short position.
Guess I would be looking for a breakout to the downside, either below the pattern support zone (orange) or potentially the LL (in Pink).
Not sure what take profit target would be or the potential effects of earnings, suppose you would use a risk-reward target?
Reservations on the trade would be the lack of correlation/support from other major indicators such as MACD/RSI/EMA.
I have been looking at the daily chart for
BEKE and believe we could be looking at a descending triangle (in Orange) for a potential short position. Guess I would be looking for a breakout to the downside, either below the pattern support zone (orange) or potentially the LL (in Pink).
Not sure what take profit target would be or the potential effects of earnings, suppose you would use a risk-reward target?
Reservations on the trade would be the lack of correlation/support from other major indicators such as MACD/RSI/EMA.
Note
*Not financial advice*
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.