How to ‘fade’ all-time highs

Alright folks, we’re gonna look at Kroger ticker is KR today and it’s always tricky fading or shorting all time highs you see basically came up and popped up to these all time highs at 62 at last week, and we’re putting in what appears to be a potential top. Now the reason I found this, the reason it even came up on my radar is because of our divergence signal. So our divergence signals are very accurate. To find high probability turning points, we don’t take every signal we do our due diligence and analysis to qualify the trade. So basically, what we have here is divergence, we have a higher followed by a higher high and our oscillator is printing lower highs, giving us our divergence pattern. So you see after we’ve come up here into this level, we’ve kind of simmer down a little bit, we pushed up one to one more high. And now it looks like we are putting in a top so we have 123 tops in the making. We also have divergence down here below. And then I wanted to run that against our smart market scanner. And you can see that we have a bearish signal coming up as well. It starts on around April 19 at 6% win rate over seven years. So it’s a pretty high probability trade, at least in my opinion. Now, what we would be looking to do here is wait for additional confirmation that can come through a variety ways, either waiting for that trend line break waiting for additional topping confirmation. This is the way I fade markets at these levels. Our first target is going to be to try and take it back level to level. So up here at 61. First targets are going to be down here around the $46 mark, which is this last level we saw before we shot up to new highs now I’m gonna be hosting a free presentation on Friday, April 15 at 11am Eastern, and I’m gonna hyperlink you to that right page where I’m gonna teach you this exact methodology in strategy. I look forward to seeing you there