ERIE short play on trendline break

ERIE broke its recent upward trendline today, creating a short trade possibility with a small risk and high reward.

Factors leading to the decision:
Major trend is down
Minor uptrend looks like it was a relief rally, and price broke below it in the past 3 days
20-ma was recently lost, pulling moving average traders off the sidelines
The recent high fractal pattern is also at the 20-ma and offers a perfect technical spot for a tight stop

As always, use a tight-stop and if it rips down, let it run and trail stops behind.

Trade fermée: ordre d’arrêt atteint:

This trade has been stopped out