Short
REG - Upward channel breakdown short setup from current price
REG was running within a long upward channel, followed by a Downward channel. Now seems braking down from a upward channel.
The upward channel brake came with a huge surge in volume, Moneyflow also declined very sharp. We think it has good downward potential.
* Trade Criteria *
Date first found- March 2, 2017
Pattern/Why- Upward channel breakdown
Entry Target Criteria- From current price
Exit Target Criteria- 1st target $61.13, 2nd Target $58.13
Stop Loss Criteria- $72.13
Please check back for Trade updates. (Note: Trade update is little delayed here.)
The upward channel brake came with a huge surge in volume, Moneyflow also declined very sharp. We think it has good downward potential.
* Trade Criteria *
Date first found- March 2, 2017
Pattern/Why- Upward channel breakdown
Entry Target Criteria- From current price
Exit Target Criteria- 1st target $61.13, 2nd Target $58.13
Stop Loss Criteria- $72.13
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Trade active
March 3rd - Considered a position at the market opening price, as we discussed to take it at current price. It had a nice decline, looking very good as short. March 7th - Down trend continued with another 1.3% decline today. Very good trade so far. Updating stoploss to $69.51
March 8th - Gapped down & made a lower low, that was the lowest since December 2015. Looking very good as short. Updating our stop loss criteria to $66.83
Note
March 10th - Declined further today, and traded very close to our first target, very good trade so far.Trade closed manually
March 14th - Going up on weakening volume , possible partial profit take here.
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Like what you see? Get full access to our 3X daily members only video/txt alerts & live trading room at smartmoneytrading.com/now
Check out some of our free video examples @ smartmoneytrading.com/insights/
Check out some of our free video examples @ smartmoneytrading.com/insights/
Related publications
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.