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DannyBly1

Registered: Jul 2007
Posts: 151

09-23-12 09:14 PM

Looking at the daily chart a bearish shooting star pattern formed on Friday:

Zooming out we can see some major trendlines that could form support:

Also worth noting that MACD crossed the zero line from positive to negative...

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college ruled

Registered: Sep 2012
Posts: 770

09-23-12 09:32 PM

A nice one too. Where would you place the stop on that short?

I would place it just above the high of red candle 2 days ago.

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DannyBly1

Registered: Jul 2007
Posts: 151

09-23-12 10:09 PM

Agreed, just above Friday's high...

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Lucrum

Registered: Dec 2003
Posts: 31432

09-24-12 04:26 AM

Quote from DannyBly1:

Looking at the daily chart a bearish shooting star pattern formed on Friday

It would appear so.

Also worth noting that MACD crossed the zero line from positive to negative...

Uh...not so noteworthy.

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college ruled

Registered: Sep 2012
Posts: 770

09-24-12 04:37 PM

Quote from DannyBly1:

Agreed, just above Friday's high...

What's your target on this trade?

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