A Google Short Term TradePrice is back to balance at the Center-Line.
From here we have a 50/50 chance that it will either shoot through it, or turn and trade in the opposite direction.
My bias is short because of the overall market situation.
(Partial) Target is the GAP-Fill at the L-MLH, which a Stop I can afford and not even think about it when it get hit.
Googshort
GOOG Rising Wedge Here is a simple rising wedge pattern on google with bear gap resistance above you dont want to get caught guessing the top because there is no way to tell exactly when price will reverse. Just react and catch the move when it presents itself. Expect to enter after either A) Gap Down, B) intraday Head and Shoulders or C) intraday bear flags.
GOOG - Why a 25% drop Is lurking in Google StockSometimes live can be simple.
This trade is simple to me.
Let's examine it:
1. Over all Indexes are not favoring the long side.
2. Price reached the Center line and get pushed back.
3. The Divergence in the RSI is significant.
...and the rest is Risk & Money management.
My stop goes a couple points above the last high.
But I probably play it with Options and give me at least 100 days to expiry (DTE).
Simple enough? §8-)
Happy trading folks.