DKNG:
Some pros and cons to play a potential bounce.
--Big Wyckoff distribution on weekly and daily.
++ Hammer candlestick on weekly (indicating bullish reversal if next candle confirms it, i.e.we get follow through)
++ Bullish RSI divergence on daily (that you can't see on my weekly chart)
Since I like the set up I will look for an entry today, but only for a swing trade (maybe 1 or 2 weeks max). My target is around 33-35.
Be careful below 27.
Trade safe!
Some pros and cons to play a potential bounce.
--Big Wyckoff distribution on weekly and daily.
++ Hammer candlestick on weekly (indicating bullish reversal if next candle confirms it, i.e.we get follow through)
++ Bullish RSI divergence on daily (that you can't see on my weekly chart)
Since I like the set up I will look for an entry today, but only for a swing trade (maybe 1 or 2 weeks max). My target is around 33-35.
Be careful below 27.
Trade safe!
Note
so far the bullish hammer seen on the weekly chart is seeing no follow through.daily chart 0.618 Fib Retracement sitting as $25
Note
2nd entry at 25Trade closed: stop reached
Bad trade. Will reconsider later.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.