YUMC
YUM!
After running into major resistance level between Mar.’23 – May ’23, price has formed a Downtrend channel.
The 1st entry short entry was July’23. Price found itself at resistance level of channel with “over-bought” Stochastic reading. See #1.
Price now finds itself again at the channel’s resistance level with an “over-sold” stochastic reading. See #2. This is my que to enter trade short.
Entering trade short.
Entry: 55.72
Stop Loss: 58.72, -5.38%
Target #1: 48.20, +13.5%, 2.51 RR ratio
Target #2: 38.67, +30.6%, 5.68 RR ratio
YUM!
After running into major resistance level between Mar.’23 – May ’23, price has formed a Downtrend channel.
The 1st entry short entry was July’23. Price found itself at resistance level of channel with “over-bought” Stochastic reading. See #1.
Price now finds itself again at the channel’s resistance level with an “over-sold” stochastic reading. See #2. This is my que to enter trade short.
Entering trade short.
Entry: 55.72
Stop Loss: 58.72, -5.38%
Target #1: 48.20, +13.5%, 2.51 RR ratio
Target #2: 38.67, +30.6%, 5.68 RR ratio
Note
Love that after hour price action!Trade closed: target reached
Target #1 reached and then someTarget #1: 42.96, +22.90%, 4.25 RR ratio
Trade active
trade still active for target #2Target #2: 38.67, +30.6%, 5.68 RR ratio
Trade closed: target reached
Target #2: 38.67, +30.6%, 5.68 RR ratio
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.
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.