GOOGL has been very weak lately, despite strength among the rest of the mag 7. A lot of the mag 7 is at or near ATH right now, while GOOGL is ~$30 off ATH. It has a bear flag on the 15m, one fakeout above. It is near the bottom end now, it tried to break below, but quickly reclaimed.
I like this short because GOOGL has a big divergence from tech, it is clearly weaker. So because of that I expect a downside break, but there's obviously a chance it breaks to the upside, so ideally I'd wait for a break and retest or enter somewhere near the line for the best risk/reward.
I like this short because GOOGL has a big divergence from tech, it is clearly weaker. So because of that I expect a downside break, but there's obviously a chance it breaks to the upside, so ideally I'd wait for a break and retest or enter somewhere near the line for the best risk/reward.
You reap what you sow.
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Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Related publications
Disclaimer
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You reap what you sow.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Related publications
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.