RBLX 2/11/2022
RBLX
Things been ugly since Nov. 2021.
After a series of lower highs there was a sharp drop and price goes into 1st bear flag.
Price continues downtrend from there.
Price breaks down past support area around 71.
Price has now pulled back to previous support level in form of a bear flag.
There is also a death cross further signaling the bear market.
Price is rejecting 20ema
Yesterday’s gravestone doji at resistance and 20ema is my que to enter.
Entering short trade
Entry: 66.70
Stop loss: 77.00
Target : trailing 10ema
Things been ugly since Nov. 2021.
After a series of lower highs there was a sharp drop and price goes into 1st bear flag.
Price continues downtrend from there.
Price breaks down past support area around 71.
Price has now pulled back to previous support level in form of a bear flag.
There is also a death cross further signaling the bear market.
Price is rejecting 20ema
Yesterday’s gravestone doji at resistance and 20ema is my que to enter.
Entering short trade
Entry: 66.70
Stop loss: 77.00
Target : trailing 10ema
Trade closed: target reached
exiting due to very sharp drop. Will look to re-enter trade when price pulls back to moving avg.Exit: 55.83 – +16.30%, 1.06%
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