ARB.ASX_ATH Breakout Trade_Long
ENTRY: 48.13
SL: 46.50
TP: 51.10
- ADX>20
- RSI<50,RSI<70
- Daily RS +ve
- Daily FFI +ve
- Daily MACD +ve
- Weekly RS +ve
- Weekly FFI +ve
- Weekly MACD +ve
- MAs are aligned.
- Breakout of down trendline on 15 Jul 2021 with good volume.
- Retraced on lower volume to 50% Fib. level before buyers coming back in on 28 Jul 2021.
- Breakout of ATH on 11 Aug 2021 with good volume, and entry based on this.
- Looks like earnings announcement is coming soon, and automotive sector is doing well globally. Hence, would expect a good earnings result to push the price higher.
SL: 46.50
TP: 51.10
- ADX>20
- RSI<50,RSI<70
- Daily RS +ve
- Daily FFI +ve
- Daily MACD +ve
- Weekly RS +ve
- Weekly FFI +ve
- Weekly MACD +ve
- MAs are aligned.
- Breakout of down trendline on 15 Jul 2021 with good volume.
- Retraced on lower volume to 50% Fib. level before buyers coming back in on 28 Jul 2021.
- Breakout of ATH on 11 Aug 2021 with good volume, and entry based on this.
- Looks like earnings announcement is coming soon, and automotive sector is doing well globally. Hence, would expect a good earnings result to push the price higher.
Trade active
- Take 50% partial at 59.20- Shift SL: 49.39
- New TP: 56.00
Trade closed: stop reached
- Hit adjusted SL: 50.78
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.