Swing Trade Setup - $BR
$BK - long
What I saw:
+ Sideway move within channel in the past 10 days
+ Breakout signals fired in high vol.
+ MACD turning positive
+ Weekly chart painted a NR3 & NR7 combo with higher vol.
- Upper shadows scattered whenever price reached resistance
- Next Fib resistance is at $39.5
- Overall price has been in downward trend
My entry plan:
Long above $38; Stop at low-$35; Swing trade with a target of $42.88
What I saw:
+ Sideway move within channel in the past 10 days
+ Breakout signals fired in high vol.
+ MACD turning positive
+ Weekly chart painted a NR3 & NR7 combo with higher vol.
- Upper shadows scattered whenever price reached resistance
- Next Fib resistance is at $39.5
- Overall price has been in downward trend
My entry plan:
Long above $38; Stop at low-$35; Swing trade with a target of $42.88
Order cancelled:
Setup has broken down; cancelling trade.