My software has entered a short position as shown on the chart. The trade will be managed using Donchian Channels (all done automatically by my software).
As price moves lower, the Donchian Channels (blue line) will move in conjunction with price, to the high of the previous 5 candles. When (if) this blue line moves below our initial stop loss, my software will...
My software has already entered me into the trade shown. As soon as price moves down 0.2R my stops will automatically follow. Could be a quick in and out, could see a pump lower, in which case the stops will just water fall down 0.2R away from price.
I checked all latest retraces,
the most common values is 0.5-0.618.
We are almost touching 0.618 of the shortest
fibo grid, and already passed the 0.318 and 0.5
values of two other possible perspectives' grids.
Confirming that the possible bottom is,
possibly, closing right now)
Buy this dip) While you still can!
We are on the hunt for short ideas as we expect to see some form of pullback in equities in the short term. Sage Group is in a long term downtrend and has underperformed the benchmark index over the past 1-3 months on a relative basis. The shares have rallied into downtrend resistance as well as a combination of the 50 & 200 day moving average. There was also a...