GYMB bearish but…..
An example of why you should pass on a short setup.
This chart HERE shows the poor money flow on the daily, with a recent bearish zero line reject. Volume by price suggestive that it is heavy up top and thin down to the gap support down near 26.00. From the suggested short zone in the intraday chart that’s 21% profit. The logical price for the stop is at 34.00, which is 5.8% risk, which makes the reward/risk only 3.6, far lower than my preferred 10. For this reason I’ll be passing on the setup completely, and I share this setup for this reason; to highlight that although the TA sets up short and it looks like a good candidate the r/r numbers should be telling you to look for greener pastures. It just isn’t worth the risk.
Loading...