ACST is currently located at the bottom of the value zone (~ $0.38 area) , as you can see from the chart price bounced multiple times to the upside from the bottom of the value zone ,also notice the indicators below .In my estimation we have a higher probability for ACST to start moving higher and reach ~ $0.54 area . ENTRY $0.40 STOP LOSS : $0.36 TARGET $0.52 R/R 1/3 Not financial advice .
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ACST moved down to $0.406, I missed my entry by $0.006(!) then bounced up to $0.4548 and closed at $0.441 . Trading idea no longer valid - I missed my entry.
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2nd attempt .Adjusted entry to $0.41 ,stop moved to $0.37, target $0.52, R/R 1/2.7
Great analysis how did you know that was going to happen ?
RotanimreT
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@auroraa003, Thanks! I looked at few things : ACST was at the very bottom of the value zone (demand zone )- bottom of the rectangle ,As you can see it bounced to the upside in the past when it touched the bottom of the rectangle (bottom of the value zone ), also look at the indicators and the way they are in the orange squares ,look what ACST did when indicators showed in the past (look at the orange squares on the left of the chart),also the last 3 candle action...Based on that I made a prediction that we have a good probability to see ACST starting to move up-and it did . You might ask why my target is set to $0.52 -the answer is simple if you look at 200ma (not on the chart ) it is lays somewhere in $0.52 area , so I think price might get rejected to the downside from this level ,if not then we will see ACST moving higher and possibly establishing support at 200ma ($0.52 )... I hope it helps.