Trade Idea: $CRM
CRM is presenting a head and shoulders with the right shoulder firmly in a downtrend. The entry for this trade would be looking to enter on one last lower high with a stop loss above the prior high.
Trade Setup
🏷️ Name: Salesforce
💠 Ticker: $CRM
📉 Direction: Short
🎯 Entry: $247
🎯 Target: $137 or trailing stop
🛑 Stop Loss: $274
⚖️ Risk / Reward: 4 : 1
🏷️ Name: Salesforce
💠 Ticker: $CRM
📉 Direction: Short
🎯 Entry: $247
🎯 Target: $137 or trailing stop
🛑 Stop Loss: $274
⚖️ Risk / Reward: 4 : 1
If CRM breaks out and stops out the first trade, it may present one more opportunity to short from higher, making a full right shoulder:
Trade Setup
🏷️ Name: Salesforce
💠 Ticker: $CRM
📉 Direction: Short
🎯 Entry: $307
🎯 Target: $137 or trailing stop
🛑 Stop Loss: $380
⚖️ Risk / Reward: 2 : 1
🏷️ Name: Salesforce
💠 Ticker: $CRM
📉 Direction: Short
🎯 Entry: $307
🎯 Target: $137 or trailing stop
🛑 Stop Loss: $380
⚖️ Risk / Reward: 2 : 1
