Market preparing for Italian election
Updated
Type of wedge/pennant is forming and will potentially break the neckline of previously formed double top.
Trade closed: target reached
Tp1 hit. Now we break the support and possibly starting the reversal of the trend. Moving SL to breakeven and now even if we observe false break, we've pocketed some money.
Trade closed: stop reached
Tp2 hit break even. Will wait to see if up trend will hold up and if not will look to short again.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.