The M-15 chart shows a bounce on Friday AH session from within a strong area of support with multiple conjunctions including a rejection candle with a lower wick and closing above the 200 EMA/SMA lines.
This area is also represents a historic support that was retested with the rejection candle, thus indicating a false breakdown and a true reversal to the upside. Thus one can anticipate a continuation of the Bullish move that started earlier in that same day.
SL & PT:
The bottom of the move can therefore serve as a fair area of support and SL. There are multiple PT's, most notable are VWAP and the previous day high.
Wishing you the best of luck with your trading.
This area is also represents a historic support that was retested with the rejection candle, thus indicating a false breakdown and a true reversal to the upside. Thus one can anticipate a continuation of the Bullish move that started earlier in that same day.
SL & PT:
The bottom of the move can therefore serve as a fair area of support and SL. There are multiple PT's, most notable are VWAP and the previous day high.
Wishing you the best of luck with your trading.
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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.