PYX short squeeze on trendline break

18 Oca 2020

As PYX breaks its major downward trendline, a long position is entered with a tight stop.

Factors leading to the decision:

• Long-term downward trendline broken
  
• Heavy 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, let it run

7 Şub 2020

İşlem kapandı: durdurma seviyesi

This trade failed with a fake breakout and my tight stop was hit a few days in