OPEN - OPENDOOR - come back of real estate names
As we gear towards the rate cuts, I think some of the worst impacted companies from high interest environment finally do a turn around and comeback. Barring a recession, a soft landing and signalling data, could make OPENDOOR an interesting play.
Price is moving down inside a very clear channel. We took out previous low, sweeping the liquidity and sell side stops. A good NFP and CPI data, can push easily OPEN to 2. And if Fed signals end of the month rate cuts, easily 3-4 in a couple of months before election worries settle in.
Ideal entry in FVG shaded area, 1st entry, add to the position when channel is broken to the upside. 2 Buyside are targets, 1st to take partial profit, 2nd to close position. Do not forget trailing stop.
Price is moving down inside a very clear channel. We took out previous low, sweeping the liquidity and sell side stops. A good NFP and CPI data, can push easily OPEN to 2. And if Fed signals end of the month rate cuts, easily 3-4 in a couple of months before election worries settle in.
Ideal entry in FVG shaded area, 1st entry, add to the position when channel is broken to the upside. 2 Buyside are targets, 1st to take partial profit, 2nd to close position. Do not forget trailing stop.
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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.