Make no mistake, the downtrend in Facebook is not going anywhere for now.
But aggressive traders can enjoy a short term bounce with a favorable risk/reward ratio.
Price near lower end of channel + circled candle showing clear signs of demand outside channel + previous resistance as target (conservative) makes this a good short term bet.
CMP 134.95 SL 133.10 TARGET 138.40
But aggressive traders can enjoy a short term bounce with a favorable risk/reward ratio.
Price near lower end of channel + circled candle showing clear signs of demand outside channel + previous resistance as target (conservative) makes this a good short term bet.
CMP 134.95 SL 133.10 TARGET 138.40
Trade active
Trade closed: stop reached
Trade active
Given fresh entry @135. (Benefit of good risk-reward ratio)Trade closed: target reached
Hope you benefited from this 'minor bounce'Total trades = 2
Trade 1 P/L = -1.85 $ per share
Trade 2 P/L = +3.40 $ per share
Net P/L = +1.55 $ per share
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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.
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.