Trend identification tools in the weekly time-frame indicate a bearish bias.
Price is now close to the weekly Tenken-Sen, indicating that the price has retraced and is not oversold.
Trend identification tools in the daily time-frame also indicate a bearish bias.
75d SMA has been a reliable trend-following indicator in the past; and used in conjunction with over-bought stochastic oscillator crossover has given reliable signals in the past.
Outcome:
16 Dec: Opened SHORT at $18.10
13 Jan: Covered at $19.96
Reason for closing: Stop-loss triggered.
Loss $1.86, 10.3%
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