FLR breakout and short squeeze potential

18 Oca 2020

As PYX breaks its major downward trendline, a long position is entered with a tight stop.
As this trade progresses, shorts will be forced to cover, creating a potential for a parabolic move north.

Factors leading to the decision:

• Long-term downward trendline broken
  
• Decent bullish volume showed up at the low, noticeable to traders looking for a sign of reversal
  
• A recent small retracement created a higher-low which is an ideal place to put a tight stop for the trade
  
• 20 SMA was recently crossed and held, luring in MA traders
  

As always, use a tight-stop and if it rips down, let it run and trail stops behind.

19 Şub 2020

İşlem kapandı: durdurma seviyesi

Stopped out on a gap