We can take a long here.
Our MAs are showing a good buy signal that coincides with the breaking and testing of the descending channel we have been trading in for the past while.
Ren MA:
Green is above red, while red has crossed above blue during in time with the channel break.
Our MAs are showing a good buy signal that coincides with the breaking and testing of the descending channel we have been trading in for the past while.
Ren MA:
Green is above red, while red has crossed above blue during in time with the channel break.
Comment:
Comment:
Final update.
As you can see,price has almost hit our TP and will likely do so.
In the event that the price dips under the green MA before reaching TP, we close at a profit.
With these two scenarios both being profitable and the method proven. All we need to do is watch, wait, and repeat the process when the opportunity arises again.
I hope someone, somewhere may have learned something useful from this example :) And as always, I'm always open to questions and trade related conversation.
As you can see,price has almost hit our TP and will likely do so.
In the event that the price dips under the green MA before reaching TP, we close at a profit.
With these two scenarios both being profitable and the method proven. All we need to do is watch, wait, and repeat the process when the opportunity arises again.
I hope someone, somewhere may have learned something useful from this example :) And as always, I'm always open to questions and trade related conversation.
Comment:
TP hit - Trade closed
Price did not close under the blue moving average line, so we stayed in the trade.
However, failure to form a higher high here would mean we should exit.