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UnknownUnicorn6734025

Price Action & Psychology - Trend following, pullback

Long
UnknownUnicorn6734025  
NASDAQ:AMRS   None
Trend Analysis Support and Resistance Trend Lines priceaction psychology Technical Analysis charting swingtrading swingtrader Stocks
7
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trendanalysis supportandresistance trendline priceaction psychology technicalanalysis charting swingtrading swingtrader stocks
Hello !

Key points :
  • Wide range candles in the direction of the trend
  • Pulling back after over-extension
  • Significant support area
After a period of consolidation, the double bottom ignites the new trend. We notice how the wide range candles support the trend.

On the hourly chart, there's a break of the trendline, a retest and a failed attempt to push prices down.

snapshot

Thanks for reading and if you have suggestions or want to discuss the idea, just leave a comment, I'll be happy to answer.

***Disclaimer : This is not an advice to buy the stock. Please, be aware that trading is a matter of probabilities and that it only takes ONE trader to deny your trade.***
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