MELI - New Short trade from $149.73 to $91.13We are looking for a new trade setup in MELI. Please check below.
Trade Criteria
Entry Target Criteria- Break of $149.73
Exit Target Criteria- $91.13
Stop Loss Criteria- $161.63
You can check detailed analysis on MELI in the trading room/ Executive summary link here-
www.youtube.com
Time Span- 8:10"
Trade Status: Pending
MELI/N trade ideas
MELI- Long term Short at break of $159 to $90 Date First Found - November 15, 2016
Pattern/Why- breakdown of trend line and up channel,
Entry Target Criteria- break below $159.00 (hit November 15, 2016)
Exit Target Criteria- $90.00
Stop Loss Criteria- $177.63
Indicator Notes- big drop in Twiggs Money Flow
Special Note- we would consider March $170 Puts @ $11.50 or March $165 Puts @ $18.30
MELI (Daily). Cup and Handle.1.5 Year Cup and Handle pattern.
Uptrend rising to the pattern, Wolfe Wave topping formation, 1-4 Line,
OBV steady uptrend accumulation from base, Elliot Wave 5, Handle formation and break_out. RSI overbought,
Retest (38.2%-50% retracement) and Long opportunity, 200 measured target.