Olam - Potential Short Setup




Got interested by a forummer comment on Olam and its downside.

At the moment, I must say my wyckoff/vsa tells me that I am with his projection on the downside until I see significant pull back in price/volume.

Failed tests are one of the most miserable set up for anyone who is long.

Fundamental wise : I am no fundamentalist - But I do know who owns olam. However, that doesn't mean we wouldn't see Olam going back to its $1.30++ prices. Who expected Noble to tests $1.05 last year when it was still trading comfortably $2.00 the year before. What I mean is that, impossible is nothing. Adidas.

I will be queuing my short if price does goes higher a little to my comfort level.

Comment on last pic : If olam does retraces down so badly, than I must back test the significance of the 3rd pic. 

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