LH breakout potential
As LH breaks its minor downward trendline , a long position is entered with a tight stop.
Factors leading to the decision:
Major trend is bullish
Medium-term downward trendline has been broken and retested
A recent small retracement back to the trendline AND 20ma created a higher-low which is an ideal place to put a tight stop for the trade
20 SMA was recently crossed and held, luring in MA traders
As always, use a tight-stop. If it rips up, let it run and trail stops behind.
Factors leading to the decision:
Major trend is bullish
Medium-term downward trendline has been broken and retested
A recent small retracement back to the trendline AND 20ma created a higher-low which is an ideal place to put a tight stop for the trade
20 SMA was recently crossed and held, luring in MA traders
As always, use a tight-stop. If it rips up, let it run and trail stops behind.
Trade closed: stop reached