BYND - Trade the bounce
BYND successfully defended 87 area. This tells me that this is a short term bottom. My problem with the current structure is that I am still not confident on the current RSI levels. I think that it might dip near 81 before it bounces.
This is a buy below 87, stop below 76(or 81 depending on market conditions). Bounce target of 100. After the bounce, I'll count it as a lower high the I'll reshort. I am still not bullish on us equities.
This is a buy below 87, stop below 76(or 81 depending on market conditions). Bounce target of 100. After the bounce, I'll count it as a lower high the I'll reshort. I am still not bullish on us equities.
Trade closed: target reached
Bought at 92, I failed to consider the gap. Should have bought earlier. Profit is profit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.