Going short for kuaishou tech?

mchongmy
2022-05-19

Hi guys! thinking of going short for kuaishou, let me know what you think

From the descending trend channel i have bearish bias. There is high barrier pressure at 72.00, where i intend to go short, as it lines up with the 127.2% fibonacci expansion and the 61.8% fibonacci retracement. Addtionally, Stocastics show that there has been a constant resistance level, whihc suggests there will likely be a reversal at that level. I will probably put my take profit at the horizontal support level at 53.85 and my stop loss at the first resistance level at 54.85, in line with the 100% fibonacci projection. 

sell entry: 72.00[Smile] 

take profit: 53.85[Happy] 

stop loss: 54.85[Cry]

$Kuaisho 5xLongSG220808(DXDW.SI)$ 

$Kuaisho 5xShortSG220307(DJXW.SI)$ 

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Comments

  • Brrrrrrrrrrr
    2022-05-20
    Brrrrrrrrrrr
    54.85/72 = 25% loss but with the 5X DLC, u do know the compounding effect of the eventual losses yea? If u put 1k, and it drops eventually to 54.85 then u potentially lose 25%x5 and more
  • matthew_more
    2022-05-20
    matthew_more

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  • Kelvink73
    2022-05-19
    Kelvink73
    short selling require good trading skills.
  • soun_garden
    2022-05-19
    soun_garden
    Ok
  • Caprigoat
    2022-05-19
    Caprigoat
    👍🏻
  • Valhptan
    2022-05-19
    Valhptan
    👍🏻
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