Good shorting opportunity
ICE - has been treading at the lower part of the downtrend channel since april, it started its explosive move Sept onwards. After making a high, it retreated and attempted a higher high. At closed yesterday, it ended with a Big DOJI which is skew lower than the mid point. With MACD and RSi giving signal (though not formed yet) bearish divergence and price are nearing the top of the channel, there is a good chance that ICE will join the next sell off.
With a price of 200000 in 1 lot size, the plunge can carry some weight to affect the major indices.
If the entire market trend is in bad shape, shorting will give higher chance of success if all price pattern, chart pattern and indicator give a bearish signal.
This is expensive stock. So i can only use a put options at strike price around 200 but waiting for price to get as close as 205-207 so that i can buy my put options cheaper.
P.S. The Sept high is around 205, it tested once but failed. I anticipate another test and thats when i launch my attack
With a price of 200000 in 1 lot size, the plunge can carry some weight to affect the major indices.
If the entire market trend is in bad shape, shorting will give higher chance of success if all price pattern, chart pattern and indicator give a bearish signal.
This is expensive stock. So i can only use a put options at strike price around 200 but waiting for price to get as close as 205-207 so that i can buy my put options cheaper.
P.S. The Sept high is around 205, it tested once but failed. I anticipate another test and thats when i launch my attack
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