Sell WU Here...Stop at 18.81...aim for a 5 to 1 tradeMarket is trading back into overhead/resistance on Market Profile patterns...sell here with the expectation that the downtrend will continue
WU trade ideas
WU drops thru 200 ma on volumeWU showing downside after dropping thru a trend line and the 200d ma on big volume. Another volume spike today confirms the downward pressure. Short term resistance at 19.80 and that is where to short. Stop at 20.50. Downside up until 18.75 - 18.50 and 16.00.
buy uptrend...
a month ago i suggested this wu for buy....
buy after breaking of horizontal trend line
buyuptrend...
its a pullback to broken triangle and trend line ...
buy after bullish candle over the trend line
Short Term Reversal PatternThe pin bar that formed on 8/24 can indicate a higher probability of a short term (2-4 bar) reversal of price. Normally I would look to enter on a break of this bar by $0.05, which did not happen today. Instead price pulls back up into the $21.50 resistance area and stalls. Looking to enter short tomorrow (provided price doesn't gap above $21.50 at the open) with a target profit area of the bar high on 8/19 of $21.21. However - Jackson Hole is tomorrow, so who knows. :)
