I prefer a 4hour timeframe for analysis due to strong confirmation in trend. However, we must practise the top-down analysis, analyse the market phase..identify the reversal candlestick, volume, fundamental etc.. Market moving in chaotic behaviour..it will never be easy.
This counter has been breached the resistance..
Re-entry Trading Plan : 1. We looking for the price retrace at fibo 38.2 ~ 61.8. 2. Price rejects EMA's but must above SMA50 3. Ultra-low volume is the key area to enter the market. 4. Bonus if Stochastic is overbought. 5. Exit if price counter the plan.