A Bearish Bat in BF Utilities

Notes on the chart.
Always follow your trade management rules before trading my ideas.

Trade safe, stay healthy.
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Regards
Bravetotrade

Commentaire:

Some traders doubt that its not a good idea to short a stock in equity segment. I would say that its all personal preference.

In this particular trade the idea would be to look for a sell setup in the PRZ and go short. If first target is achieved early on the same day, 2/3rd of the position will be closed and the remaining 1/3rd would be kept with a stop below breakeven. Position will be closed before 3:30 pm (If first target is done in the late session whole position will be closed).

Next day if price opens above from where I closed my 1/3rd trade, I ll continue with the 1/3rd position again with previous day stop.

If the stock starts consolidating near the PRZ, I ll have to reconsider the plan. For risk management, I just mentioned the stop.

Commentaire:

Setup negated. Price shooted up the resistance zone.