1) Real Estate is in a long-time weak state (coronavirus maybe pushing it further?)
2) The Residential industry is hit hard and one can see it's getting worse since the past 3 months. 
3) Vitals show ELS is a Star Candidate trade
4) TS identified it as a GWF setup (which is also a breakout with high activity at the same time)
5) Charts on D1 give a signal for short and the Weakly strongly supports with a bearesh magenta color. 
Why not short it? 

Sector.jpg  Industry.jpg        
TS signal breakout.jpg 
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Another fine application of the CUE 360 technique, by Wadi.


You may also compare it with the idea I shared yesterday on $DRE. Both were in the real-estate sector.


What was the difference between the two trade setups? DRE gave a breakout as well as a GWF short setup. ELS gave only a breakout setup. DRE was a slightly better choice using CUE thinking. Though, both were possible shorts (if one wanted to take multiple shorts in the same sector on the same day!). 

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Thank you. If you look at my symbols list on the images above, you can see DRE as a candidate as well. But maybe something prevented me from picking up that one. Can't remember now. 

ELS is identified as a GWF setup on TS as well. I have put the screenshot. Or are you suggesting when you visually looked at the chart it is not a perfect GWF? 
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Good question.

GWF is to be applied in a trending market. ELS was not in a downtrend. It did not have a lower-high-lower-low.

So one would not apply the GWF setup, to begin with.
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I see it now. I take partial tp and move sl to B/E. I am still liking the move as a breakout downwards in a weakening industry. 
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