Holding a bullish bias as long as price respects the weekly ascending trendline and maintains the current higher-high / higher-low market structure. Price recently bounced off the 50 EMA after earnings, adding confidence.
Entry Ideas
Entry 1:
Daily close above 0.786 fib
Stop: Below previous swing low
TP: 1.0 fib, then 1.618 fib
Entry 2:
Weekly close above 42
Stop: Weekly close below 1.0 fib
TP: 1.618 fib, then $58
Invalidation
Bullish thesis invalid on a weekly trendline break.
If that happens, I’ll look for potential shorts toward the 0.236 fib zone.
Not financial advice ....just my personal technical outlook.
Bare with me I'm new to this but think this is a solid trade idea.
Entry Ideas
Entry 1:
Daily close above 0.786 fib
Stop: Below previous swing low
TP: 1.0 fib, then 1.618 fib
Entry 2:
Weekly close above 42
Stop: Weekly close below 1.0 fib
TP: 1.618 fib, then $58
Invalidation
Bullish thesis invalid on a weekly trendline break.
If that happens, I’ll look for potential shorts toward the 0.236 fib zone.
Not financial advice ....just my personal technical outlook.
Bare with me I'm new to this but think this is a solid trade idea.
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.
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.