+ We are breaking above a long term trend line + Last two days higher than average and increasing volume + MACD and RSI look good. + good PL ratio
Im noticing that some stocks seem to be going above the long term trands on my charts, but mostly they are not being confirmed. This trade seems to be confirmed as this is a second day of ssutained momentum on the candle stick, increasing volume and it is a Friday, which is usually choppy in my opinion. The market today is directionless but this has performed well. Lets see what next week brings.
I’m still hoping for more confirmation. The break is nice but I’m not conviced we saw the trend reversal just yet. This whole for ation looks like a reaccumulation to me though.
tsx_trader
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@Madcaptains, Very well may be. The longer the trade horizon, the more important it is to be confirmed in the trade.