Posted by DigiNomad on 2nd of Apr 2024 at 06:34 pm
Kind of depends on time frame and risk tolerance. I would look
for a level in this case (mine are annotated on chart) and then see
if I could get a good risk to reward out of it. This case I would
grade a C at most with a RR of 1.2 and a level I'd have to get
through to realize the target price.
As is usually the case, your R/R would increase if you
shorted the break of the diagonal instead of waiting for the
horizontal break.
Thanks Digi, i appreciate the response. Mostly daily
candles/swing trading time frame, haven't been able to plot out
great R/R on short setups i've been seeing, probably an indication
it's still early be having many sustained moves down
Posted by DigiNomad on 3rd of Apr 2024 at 12:26 am
No problem. In the case of CMCSA example you posted, that
rotation above the range is often followed a rotation below the
range of about the same magnitude...and it measures almost
perfectly to the target. Confluence of a couple factors is always
nice to have on your side.
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CMCSA weak, below all daily
Posted by foody518 on 2nd of Apr 2024 at 05:09 pm
CMCSA weak, below all daily MAs.
Curious how y'all would define price targets upon a short
Kind of depends on time
Posted by DigiNomad on 2nd of Apr 2024 at 06:34 pm
Kind of depends on time frame and risk tolerance. I would look for a level in this case (mine are annotated on chart) and then see if I could get a good risk to reward out of it. This case I would grade a C at most with a RR of 1.2 and a level I'd have to get through to realize the target price.
As is usually the case, your R/R would increase if you shorted the break of the diagonal instead of waiting for the horizontal break.
Thanks Digi, i appreciate the
Posted by foody518 on 2nd of Apr 2024 at 10:31 pm
Thanks Digi, i appreciate the response. Mostly daily candles/swing trading time frame, haven't been able to plot out great R/R on short setups i've been seeing, probably an indication it's still early be having many sustained moves down
No problem. In the case
Posted by DigiNomad on 3rd of Apr 2024 at 12:26 am
No problem. In the case of CMCSA example you posted, that rotation above the range is often followed a rotation below the range of about the same magnitude...and it measures almost perfectly to the target. Confluence of a couple factors is always nice to have on your side.