In theory, this trade worked out as expected though in actual, it is not easy to sit through ont the way down as it took almost a month with some minor rallies in between.
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| YZJ |
Sunday, March 25, 2018
YZJ head & Shoulders target hit
On 9 Feb 2017, I noticed that YZJ has formed a bearish H&S pattern. However the ideal opportunity to short this counter came only on 27 Feb when it broke down from the neckline and then rally back up to test this neckline before failing the next day. From there (about 1.50), it was a 30cts (20%)move towards the H&S target at 1.20 which was hit on 25 March.
In theory, this trade worked out as expected though in actual, it is not easy to sit through ont the way down as it took almost a month with some minor rallies in between.
In theory, this trade worked out as expected though in actual, it is not easy to sit through ont the way down as it took almost a month with some minor rallies in between.
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