Domino's Pizza Sell Setup Forming! Pizza, Anyone?Hello everyone, if you like the idea, do not forget to support with a like and follow.
Left Chart:
DPZ is sitting around a strong resistance in green from Daily timeframe, and upper brown trendline so we will be looking for trend-following sell setups on lower timeframes.
Right Chart:
on M30: DPZ is forming a channel in red , but the lower red trendline is not valid yet, so we will be waiting for a third swing low to form around it to consider it our trigger swing. (projection in purple).
Trigger => Waiting for that new swing low to form and then sell after a momentum candle close below it (gray zone)
Until the sell is activated, DPZ would be overall bullish and can still test the upper bound of the resistance or even break it upward.
And of course, as DPZ approaches our lower blue support, we will be looking for buy setups.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
