LICHGFN - Bearish Engulfing + Fib Retracement
Updated
The stock made bearish engulfing pattern from the 0.786 levels and seems bearish to retrace to the stronger 0.618 level of 265.
Choose an entry position based on your risk appetite.
Strategy 1: 'High-er' Risk & High RRR
In-case of normal or gap-up opening, Short for 270, 267, & 265 with SL at 278.
(Can wait for any small uptrend with the risk of losing out on opening downfall)
Strategy 2: 'Less' Risky & Low RRR
Short below 270 for 267 & 265 with SL at 274
In case of gap-down opening - Wait and Watch.
Choose an entry position based on your risk appetite.
Strategy 1: 'High-er' Risk & High RRR
In-case of normal or gap-up opening, Short for 270, 267, & 265 with SL at 278.
(Can wait for any small uptrend with the risk of losing out on opening downfall)
Strategy 2: 'Less' Risky & Low RRR
Short below 270 for 267 & 265 with SL at 274
In case of gap-down opening - Wait and Watch.
Trade active
Sell Triggered at 278 for T1 270 and trailing SL after that for 265; SL 281Trade active
Bullish Market - but hanging in there; Anyway exposure is less - not updating SLTrade closed manually
Exited at 277.4Trade active
Sell triggered at 275Trade closed: stop reached
Stop reached at 278
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