ARKK
已更新
This ARKK is sinking
Continuation of uptrend started Mid to late April 2020 and it came to an end Feb. 2022
From there price made a very sharp drop to 107.50 area and attempted to make move up and made 1st lower high.
Price then continued to move sideways and made a second attempt to higher prices and failed to make higher high.
Nov 2021, price broke down from support sharply. There is also a death cross of 50 & 20 ema signaling bear market. Start of possible downtrend.
Price then pulls back in form of a symmetrical triangle rejecting 20ema. The triangle breaks down and makes shape move down. Downtrend confirmed.
Currently, price is pulling back in form of bear flag. Price is also still rejecting 20ema. Price pullback is also at 0.382 fib level.
We are in obvious downtrend with the stock.
Will be entering trade to short
Entry: 71.85
Stop loss: 81.58
Target: 51.51 – 1.97 RR ratio. Or trail with 20 ema
Continuation of uptrend started Mid to late April 2020 and it came to an end Feb. 2022
From there price made a very sharp drop to 107.50 area and attempted to make move up and made 1st lower high.
Price then continued to move sideways and made a second attempt to higher prices and failed to make higher high.
Nov 2021, price broke down from support sharply. There is also a death cross of 50 & 20 ema signaling bear market. Start of possible downtrend.
Price then pulls back in form of a symmetrical triangle rejecting 20ema. The triangle breaks down and makes shape move down. Downtrend confirmed.
Currently, price is pulling back in form of bear flag. Price is also still rejecting 20ema. Price pullback is also at 0.382 fib level.
We are in obvious downtrend with the stock.
Will be entering trade to short
Entry: 71.85
Stop loss: 81.58
Target: 51.51 – 1.97 RR ratio. Or trail with 20 ema
交易結束：目標達成
Exit: 51.51 – +27.9% , 1.97 RR ratio
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