Entry conditions:
(i) lower share price for
GYG below the level of the potential outside week noted on 21st February (i.e.: $38.58).
Stop loss for the trade would be:
(i) above the swing high of 19th February (i.e.: above $45.99), should the trade activate.
(i) lower share price for
GYG below the level of the potential outside week noted on 21st February (i.e.: $38.58).Stop loss for the trade would be:
(i) above the swing high of 19th February (i.e.: above $45.99), should the trade activate.
Trade active
UPDATE (week ending 28-Feb): Trade activated on Monday 24th February, with share price closing near lows of the week at the end of the trading week. Depending on risk tolerance, and amount of 'wiggle room' the trader wishes to leave for the trade to evolve, there are a number of options that traders may wish to take here: (i) take some off the table and then leave the rest of the trade on at 'break even', (ii) lower protective stop to near breakeven utilising the open of 24th January ($38.92) as the support/resistance area, (iii) act more aggressively utilising the close of 13th January ($37.69) as the support/resistance area. Either way, congratulations!Note
UPDATE (week ending 07-Mar): Further downside during the week allows lowering of the profitable stop to the established support area established on 26-Feb (open of $35.03) that was broken to the downside during this past trading week. It appears advisable to be aware of potential support areas of $30.98 (from the open of 20th August 2024), $30.20 (from the open of 21st June 2024) and $28.00 (from the open of 7th August 2024), which may lead to a bounce back in share price. Once again, congratulations!Note
UPDATE (week ending 14-Mar): Price appears to be consolidating this week for GYG as the potential support areas noted in last week's comment keep hovering below and haven't been threatened convincingly by share price action and the RSI on the daily chart starts to curl upwards. The charts suggest considering lowering the profitable stop further to a point slightly above the open of 6th March ($34.00), a visible resistance area on the daily chart, in case of a break to the upside in order to protect profits of this 'short' trade, whilst providing some 'wiggle room' for the trade. Once again, congratulations!Trade closed: stop reached
UPDATE (week ending 21-Mar): Profitable stop hit on Thursday 20th March for a terrific return on investment for any trader still in the trade, as suggested by last week's comment. Congratulations on a terrific trade for the short-side - thank you to the market, and all of the best to shareholders.
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Disclaimer
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Detailed commentary/updates about trades (stocks, crypto & bonds) available:
youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
t.me/ASXTradersUnited
Like/join/subscribe for the latest!
...
youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
t.me/ASXTradersUnited
Like/join/subscribe for the latest!
...
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.