CRLBF S/R Flip|Structural Support|Trend Change|Bull Volume Nodes
Evening Traders,
Today’s Analysis – CRLBF – showing signs of a confirmed trend change, holding structural support will establish another higher low.
Points to consider,
- S/R Flip at structural level
- Structural resistance (Immediate target)
- RSI Cooling off
- Stochastic in upper regions
- 21 Moving Average (Visual guide)
- Increasing bull volume nodes
The trend change on CRLBF has been confirmed with establishing its first higher low. Now trading above structural support, consolidation above this level will further solidify the S/R flip.
The 21 Moving Average can be utilized as a visual guide as CRLBF has been respecting it in the immediate up trend.
Current increasing bull volume nodes is a healthy sign for the trend change, must sustain with establishing another higher low.
The RSI is cooling off from oversold conditions, a retracement to the 50 level is probable if price starts to consolidate above support.
Stochastics on the other hand is in the upper regions, can remain trading here for an extended period of time with stored momentum.
Overall, in my opinion, CRLBF is in the midst of a trend change. Holding structural support is critical for a new higher low. A long trade is valid with defined risk below structural support.
What are your thoughts?
Please leave a like and comment,
And remember,
“A probabilistic mind-set pertaining to trading consists of five fundamental truths. 1. Anything can happen. 2. You don’t need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique.”
― Mark Douglas
Today’s Analysis – CRLBF – showing signs of a confirmed trend change, holding structural support will establish another higher low.
Points to consider,
- S/R Flip at structural level
- Structural resistance (Immediate target)
- RSI Cooling off
- Stochastic in upper regions
- 21 Moving Average (Visual guide)
- Increasing bull volume nodes
The trend change on CRLBF has been confirmed with establishing its first higher low. Now trading above structural support, consolidation above this level will further solidify the S/R flip.
The 21 Moving Average can be utilized as a visual guide as CRLBF has been respecting it in the immediate up trend.
Current increasing bull volume nodes is a healthy sign for the trend change, must sustain with establishing another higher low.
The RSI is cooling off from oversold conditions, a retracement to the 50 level is probable if price starts to consolidate above support.
Stochastics on the other hand is in the upper regions, can remain trading here for an extended period of time with stored momentum.
Overall, in my opinion, CRLBF is in the midst of a trend change. Holding structural support is critical for a new higher low. A long trade is valid with defined risk below structural support.
What are your thoughts?
Please leave a like and comment,
And remember,
“A probabilistic mind-set pertaining to trading consists of five fundamental truths. 1. Anything can happen. 2. You don’t need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique.”
― Mark Douglas