STRIDE PHARMA - INVERTED HEAD AND SHOULDERS / DOUBLE TOP
Hello folks!
Idea 1 - We can look at it as an inverted head and shoulder pattern with neckline at 930, with a potential target of 1000 - assuming a breakout with good volume
Idea 2 - Think of it as a double top pattern that is approaching the support - do not enter right away until the momentum downwards slows down - Better to see the price action pattern at 830 levels (enter with a green candle) for a target of 900 with SL around 803 risk reward here is 1:3
Idea 3 - See if it breaks the trendline and goes down to the 750 levels where it has both 200MA support and a demand zone, at which point an entry can be considered for a target of 930 (the previous swing high) - SL should be below the 200 MA , giving you an excellent risk reward setup of 1:9
I am new to this - so if anyone feels like chiming in, please feel free to do so.
Thank you for reading.
Idea 1 - We can look at it as an inverted head and shoulder pattern with neckline at 930, with a potential target of 1000 - assuming a breakout with good volume
Idea 2 - Think of it as a double top pattern that is approaching the support - do not enter right away until the momentum downwards slows down - Better to see the price action pattern at 830 levels (enter with a green candle) for a target of 900 with SL around 803 risk reward here is 1:3
Idea 3 - See if it breaks the trendline and goes down to the 750 levels where it has both 200MA support and a demand zone, at which point an entry can be considered for a target of 930 (the previous swing high) - SL should be below the 200 MA , giving you an excellent risk reward setup of 1:9
I am new to this - so if anyone feels like chiming in, please feel free to do so.
Thank you for reading.
Note
Forgot to turn on the 200 MA - it will make sense when you turn it on (currently at 753)
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.