KOLD on the 15 minute chart shows a prior uptrend followed by a large falling wedge pattern
from which in broke out then to form another smaller falling wedge. Anchored VWAP bands are
added showing price is now just above the support of the mean VWAP line also confluent
with the Fibonacci retracement of the uptrend of the first 20 days of February. The RSI
indicator shows relative strength low and less low time frame lines near to the 50 level.
I see this as an excellent setup to take a long trade in KOLD with the target and stop loss
on the chart looking to capture 15% upside.
Trade active
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KOLD with upward price action. Stop loss raised above break =even. Holding full position for the weekend. It's a nice warm day here = gas demand is low for now.
Trade active
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KOLD sideways after triangle. Patiently holding full position.
Comment
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KOLD finally rising a bit. Very warm and sunny here. low demand persists.