[Bearish Setup] - Yangzijiang Shipbuilding (SGX: BS6)

A few days ago I mentioned a bullish setup for Yangzijiang. The long trade has now been realised and it the prices seem to be consolidating.

I am looking out for a short opportunity and trading plan will be as follows:

Entry price: $1.225
Take Profit: $1.14
Stop Loss: $1.28

This trade gives a nice RRR of 1.55

Whether or not I go short on this trade depends heavily on tomorrow's first hour after market open. It it opens and hits the price of 1.28 or above, this trade in invalidated.

As always, happy trading.

Cheers.