Spotted a possible reversal for this bleeding downtrend in the short term. As you can see, we've got a bullish divergence, indicating higher lows in our RSI and Stoch, and lower lows in our price. Also, we have a Falling Wedge and are very close to the .5 fib retracement, just in case we go a little bit more downwards. In orange I've drawn a trendline from the 17th of april low wick to the latest low (8204).
Entry: 8330-8214
First obj: 8600
Second obj: 8730
Third obj: 8850 (unlikely)
Stop loss: 8170
Feel free to hmu with your opinions on this, as I'm new to TA and this site!
PD: Happy trading and this is not professional advice! Just for educational purposes
Entry: 8330-8214
First obj: 8600
Second obj: 8730
Third obj: 8850 (unlikely)
Stop loss: 8170
Feel free to hmu with your opinions on this, as I'm new to TA and this site!
PD: Happy trading and this is not professional advice! Just for educational purposes
Trade closed: target reached:
Reached first objective and unlikely to reach second, given current bull strength :/