Solid set-up building...All signs of possible breakout...I'd wait for test of 20 and pullback for long entry.
Or go long above 16 and watch closely around 20. Failure there should bring it back to 12, but bull case is looking good for now.
Or go long above 16 and watch closely around 20. Failure there should bring it back to 12, but bull case is looking good for now.
Comment:
Be ready to place those buy orders around 12...technically, don't see any reason this goes below previous low. Nothing is guaranteed in this trade...you operate on probably basis and this one ranks high on long scale.
Comment:
Claimed both 30 EMA and VMA today...now needs to holds at this level to see the follow through to 21+
Comment:
See, why it acted weak in this zone?
In bear markets, all resistances are likely to get sold (reverse is true for the bull market).
Still early for short, but weakness is palpable. only reasonable trade is off the lows, with a fixed stop loss. Otherwise, wait for price to reclaim the current level and hold again.
If you bought at the low, now might be the time to take some profit, if you haven't done so already.
In bear markets, all resistances are likely to get sold (reverse is true for the bull market).
Still early for short, but weakness is palpable. only reasonable trade is off the lows, with a fixed stop loss. Otherwise, wait for price to reclaim the current level and hold again.
If you bought at the low, now might be the time to take some profit, if you haven't done so already.
Trade closed: stop reached