HUYA trade ideas
Quick Short - Over BoughtYes, looks like we have a double bottom - a confirmation of a trend reversal....and a little research into the company, it looks good. Should be a good long term portfolio add, BUT it currently way over bought according to the RSI and I've read and seen play out that double bottoms/head and shoulders typically will trend reverse the same distance from the neckline as they did when forming the pattern. R/R also looking good.
So taking all of that into consideration, I went short before todays market close. It might have been better to go short at some point tomorrow...just watch for the short confirmation.
HUYA Holy Grail buy on the DAILY (Linda Raschke setup)Market retreats to 20 period EMA after making new highs (for long positions)/lows (for shorts) with ADX (14period) >30. Some people use the 20 period SMA . Projection is a retest of the highs. Trailing stop. ***Failed grails tend to move (painfully) in the opposite direction.
Setup invalid below daily EMA (34.80)