ARB Short
Setup: Short lower high
Catalyst (If any): Economic data slowing
Risk: $30
Reason for SL location: above recent peak. A break above would disprove technicals
Profit targets: T1 = $40.30 (Recent support/old resistance and 3 X R) T2 = $39 Key Volume Profile level
Other comments: ARB is up 330% from the Covid lows. The reflation trade seems to have run it's course and I feel all the positive news is already baked in. Volume indicators show a weakening trend. Economic indicators are also beginning to miss expectations. I believe the economy is slowing and as such have begun to look for shorts in cyclical stocks. Price is obviously king so will accept the loss if it breaks $46.50 in the next few days..
Catalyst (If any): Economic data slowing
Risk: $30
Reason for SL location: above recent peak. A break above would disprove technicals
Profit targets: T1 = $40.30 (Recent support/old resistance and 3 X R) T2 = $39 Key Volume Profile level
Other comments: ARB is up 330% from the Covid lows. The reflation trade seems to have run it's course and I feel all the positive news is already baked in. Volume indicators show a weakening trend. Economic indicators are also beginning to miss expectations. I believe the economy is slowing and as such have begun to look for shorts in cyclical stocks. Price is obviously king so will accept the loss if it breaks $46.50 in the next few days..
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.