Would you trade this as a sideways range?

Discussion in 'Strategy Development' started by Risepoint1879, May 14, 2019.

Would you trade this as a range?

  1. It had some decent upward pressure, then went back to the opening price. Assumethe sideways range.

    1 vote(s)
    33.3%
  2. Assume the downtrend will continue. Don't go long at the bottom.

    2 vote(s)
    66.7%
  1. Would you trade this as a range? ssssq.PNG
    See poll.
    [​IMG]
     
    Last edited: May 14, 2019
    murray t turtle likes this.
  2. maxinger

    maxinger

    The info you provided is limited.

    Would you trade?
    It depends.

    Market can continue to go down,
    or reverse direction and go up,
    or refuse to move.
     
    Nobert and tommcginnis like this.
  3. not enough price history to make this determination. Was price trending previously or was it ranging for a long time ? Also, I need to see volume and the previous days intraday price movement. Price tends to move in 2's. 2 days of similar type of movement.
     
  4. wrbtrader

    wrbtrader

    Not enough info or too limited.

    Show 10x more bars to better understand the price action...at least 300 intervals. Yet, if you're just scalping and not dependent upon charts...the may be a trade there.

    wrbtrader
     
    tommcginnis likes this.
  5. %%
    Yes if those candles were 5 hours+ 52 week HI was 80 or $88.Also rightly assume its not a DOW stock-tends to underperform. BUT as a reality check, SQ is below 200 dma, 50 dma; elephants+ bears are selling it. But good liquidity; not as good as QQQ in any measure + QQQ pays a dividend.Good question

    But your SQ trend is >>> LEVI trend+ i cut a loss on that one; great jeans, not much of trend.:D:D, :D:D:D:D:D:D