GXY Daily Chart Outlook

This is a short term analysis of GXY with a view of up to several days. No doubt GXY is one of the heavily shorted stocks in our market as of this writing. Is that about to change ? Is a short covering rally on the horizon ? MAY BE to both questions my answer would be .

What did we get at the penultimate bar  (30/08) ? A bullish pivot. Does this allow me to take a counter-trend trade with a view of up to several days ? Yes it does. Pivot low is my danger point which must hold if  I decide to carry the trade over-night. Stop now at breakeven.

Scalping in short term may summarise this trade.

Disclosure : GXY held with a short term view only.



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