Watch The Volume
The last update on ABNB, link here, attempted a short (ABNB-26-05) at the location shown.
That trade was stopped out the very next day as price action pushed to a new daily high.
Now, a second attempt (not advice, not a recommendation).
The difference from today’s downside action as opposed to last Thursday’s is the significant increase in volume.
If ABNB manages to push higher from here and make a new daily high, then it’s time to step aside (from a short perspective) until the action becomes more clear.
Stay Tuned
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The Danger Point®, trade mark: No. 6,505,279
The Danger Point® 
This is a great trade idea; the RSI and MACD are so extended. I wouldn’t be surprised if it visited the 50 DMA around 160.
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Thanks,
I appreciate the compliment.
It’s nice to know about the indicators as I typically do not use those in determining trade ideas. Decisions are made (for the most part) on what the market is actually doing and what it tends to do.
Meaning, as in this case from the Weis training video, he specifically identifies ‘wide high-volume bars’ as a place the market likes to come back and test. ABNB certainly fits the requirement.
How or when it does that (come back to the wide bar), is a whole other topic. 🙂
Regards,
Paul
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