APPF - Sweet SHORT Swing Trade
Here we see a really nice set up for a Short swing trade.
On the weekly chart the price is over extended and has broken the upward trend line with a declining MACD histogram. In addition, the price has come to point where AB=CD and due for reversal/correction .
On the Daily chart we see a Head and Shoulder reversal pattern with a Bearish Engulfing candle 'testing' resistance after price it has broken downward through the upward trend line . In addition, we see a MACD histogram bearish divergence with strong downward momentum.
Entry trigger just below the latest ( bearish ) candle with stop loss above it. Two take profit targets at 38.2% and 50% Fibonacci retracement respectively. A nice swing trade with a 1:2 risk/reward ratio
On the weekly chart the price is over extended and has broken the upward trend line with a declining MACD histogram. In addition, the price has come to point where AB=CD and due for reversal/correction .
On the Daily chart we see a Head and Shoulder reversal pattern with a Bearish Engulfing candle 'testing' resistance after price it has broken downward through the upward trend line . In addition, we see a MACD histogram bearish divergence with strong downward momentum.
Entry trigger just below the latest ( bearish ) candle with stop loss above it. Two take profit targets at 38.2% and 50% Fibonacci retracement respectively. A nice swing trade with a 1:2 risk/reward ratio
Feragatname
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