I have been watching BIOSIG TECHNOLOGIES INC shares for a while.
A good idea for trading in the coming days was formed according to it.
What is on the chart:
1. Strong level, formed by the TF:W low
2. The level worked well in 2018 and in 2019.
3.15 April 2020 level was confirmed again.
4. On September 23d, the same level stopped a strong fall.
5. Six trading sessions we consolidate above the level.
6. On September 25th there was an attempt to go long, but the position was kept in the channel between 4.67 and 5.3.
7. On September 30 and October 01st we observe a series of lower level retests.
8. October 02d is a false breakout of the lower level of the channel.
My trading ideas:
1. If the instrument is pressed against the lower level of the channel again on Monday, I set Sell Stp Order under the level. I set the SL above the level, behind the breakout bar. The second option is possible: I accept the risk equal to the standard ATR 5M bar.
2. If the tool tries to get up, out of the channel, I set the Buy Stp above the level. The SL parameters will be the same as for the shorts trade.