alexp

GOOG to bounce off EMA 20

Long
BATS:GOOG   Alphabet Inc (Google) Class C
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GOOG is likely to bounce off EMA 20 and at least test the previous high, before any potential reversal.

If triggers above 746.7 - the target will be 769.70 with $10 stop loss at 736.7

Comments

how did you calculate SL at 736?? I see no Fibonacci lines that hit that point
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alexp jeffreysmith
just put it below the doji, double bottom 10 days ago and MA. s/r doesn't always have to be a Fib line - Fib line is just one of the cases of a s/r - take a look at the yesterday's doji hammer for example, the support was just under that big bull bar double bottom on 23/9 with a small bull bar on 22/9 - but this was the second support and too far away for my profit target and risk/reward ratio
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stopped out here :(
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