MyTradingJournal

Price Action & Psychology - Trend following, pullback

Long
NASDAQ:AMRS   AMYRIS INC
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.


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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