Wasn't expecting such a big fall and this fast but here we are on a position from previous days ago.
It's not an analyse anymore can now the position is over for me but can be interesting to review it.
This stock is a French stock (POS) involved in a huge scandal and with a value decreasing very very fast since this moment.
Their is no reason to thing the company is going to recover from this scandal and the stock is just going down each days.
We had a huge gap up on the stock some days ago so I decided to short it on a fail of continuation with 5€ as target price. But today we have an even bigger gap down with price going lower than expected so my exit is now 2€ (keeping a little part of the position is not stupid but with a -97% fall, we are good).
Here is the reason why I use to take easly trades with this kind of signal even if we can have a lower winrate, because the r/r is just enormous.
Great Trade !
It's not an analyse anymore can now the position is over for me but can be interesting to review it.
This stock is a French stock (POS) involved in a huge scandal and with a value decreasing very very fast since this moment.
Their is no reason to thing the company is going to recover from this scandal and the stock is just going down each days.
We had a huge gap up on the stock some days ago so I decided to short it on a fail of continuation with 5€ as target price. But today we have an even bigger gap down with price going lower than expected so my exit is now 2€ (keeping a little part of the position is not stupid but with a -97% fall, we are good).
Here is the reason why I use to take easly trades with this kind of signal even if we can have a lower winrate, because the r/r is just enormous.
Great Trade !
5€ -> *0.05€
2€ -> *0.02