On MANU we had a completion of the cypher pattern and the stock moved upward and has hit the first target level.
We want to see an open above the blue trend line shown below to confirm an actual continuation, or a breakout above the line.
Since then, we have had multiple doji's that have caught my eye. If one doji shows indecision, multiple doji's show further indecision.
We've had an open higher above the last Doji already and we are sat right on the trigger line, If we open higher in the next trading session and above the T line, this should be a good probability move of going to the upside and presents itself as a good buying opportunity. If we don't open higher than the previous session, then this trade isn't as appealing.
Another way of going about this is to wait for a break above the only challenge this trade has, which is the 50 and 200 EMA.
In this sort of trade you can use very tight stop losses, and I would at absolutely maximum have my stops at 16.16. Any lower shows sellers are still in control.
Good luck traders
We want to see an open above the blue trend line shown below to confirm an actual continuation, or a breakout above the line.
Since then, we have had multiple doji's that have caught my eye. If one doji shows indecision, multiple doji's show further indecision.
We've had an open higher above the last Doji already and we are sat right on the trigger line, If we open higher in the next trading session and above the T line, this should be a good probability move of going to the upside and presents itself as a good buying opportunity. If we don't open higher than the previous session, then this trade isn't as appealing.
Another way of going about this is to wait for a break above the only challenge this trade has, which is the 50 and 200 EMA.
In this sort of trade you can use very tight stop losses, and I would at absolutely maximum have my stops at 16.16. Any lower shows sellers are still in control.
Good luck traders