YELP Triangle

Updated

Have been watching this YELP triangle forming the past few days. Neutral sentiment right now. Technically the trend looks down, but ready to buy on breakout from the top trendline or short on breakdown from the bottom trendline. We don't have to choose a side in advance. Let the market show us, and be ready to take action.

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This may be the breakout

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Failed breakout that is?

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A second failed breakout. Now this feels like a short candidate.

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Trade active

Went short this morning

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hourly chart: maybe i was wrong here.. top of triangle seems to be holding as support now

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Earnings call tonight. Stock seems to be tanking in afterhours ahead of earnings call :)

Trade closed manually

Things were just not looking right. Got out for a small loss 5 minutes before eod.

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