autemox

Sell your CMG, risk against higher high on weekly

Short
autemox Updated   
NYSE:CMG   Chipotle Mexican Grill, Inc.
CMG: we still in downtrend on weekly. 3 part bull div on daily is probably related to weekly trying to make a higher high (it hasnt yet). This could be a sell opportunity with stop if we break higher high. The target would be the gap fill and weekly volume profile node. Because its a short, on a daily-weekly timescale, and the r:r isnt great, this is not a perfect trade.
Trade active:
@ 457.24
One thing to note stop should not be strict I would monitor and consider stop early on higher high, good rumor, or after stop is hit wait for pull back to close short.
Comment:
first day went well, tempting to close early but no. Also noticed a critical typo I made in my post calling this a bull div instead of a bear div. Wow thats embarassing :) but I did say sell..
Comment:
3 part bear div on daily not yet invalidated (RSI still lower than previous).
Could we get a 4 part bear div? It's possible and my hope as my trade moves into the red. Also set up for bear div on weekly timeframe:
Trade closed manually:
closed losing trade

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