Trent Weekly Bearish Engulfing - Short Candidate

TRENT is looking weak on weekly chart as it has made a bearish engulfing candle. Also closing below 20 EMA on weekly.

Looking for 1279 ( 50 EMA weekly support ). If a close comes below this, we can 1256 & 1231 on downside. SL is relatively small of 1345 which is Friday's high. Better to short this in cash and not play in options cos one spike can take away your SL in option trade or a slow move might decay the option premium. Expecting this to move slowly on downside

Let's see how the story develops. Best wishes!

Disclaimer -

- The opinions expressed here are my own. This is for my own records as well as what I see on charts.
- If you are referring to this, please keep in mind that it is only for educational and research purposes.
- Past performance is no guarantee of future results.
- You must accept responsibility for any decision you make. DO NOT TAKE THIS AS AN INVESTMENT RECOMMENDATION.
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TIA!

Zlecenie aktywne:

1344 to 1292 in 2 trading days and going good. Looking forward to T1 and T2 levels.

Transakcja zakończona: osiągnięto poziom stop:

Low made of 1288 and target missed by 9 points. Also SL hit of 1345 and trade failed. Closing this trade