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Long term trend resistance and Fib Resistance channel lead me to believe that CP Rail is about to take a dive. A healthy retracement is required for long term growth to continue. Comment your thoughts! Happy trading
we can see daily cup and handle pattern with triangle action and odds for day*swing trading plan
I've been short since 214. When I initiated the trade I targeted 210 as the key level in the short term to break, and sure enough it is stalling there today. A decisive break below 210 could easily send it back to 200. If 210 holds and the broader market turns up, back to 220 is likely.
Many a time, trader are told that we should not be averaging. But again there is something they left out i believe. Averaging is workable on 2 conditions IMO: 1. I can stomach expected loss initially 2. Only average very near to market top or market bottom I am ready to short again when price hit 220.
I shorted immediately after seeing a double divergence @ strike price 208 as a result of my impulsiveness, price of CP shot up to 210.5 and i was at paper loss of 150 momentarily. But having a declining MACD backing me up, i just stay on and wait patiently. Took my 50% profit when price hit 50ema yesterday. Two important candlestick pattern at the top. Bearish...