Buyback can be identified on the 4h timeframe on MTL.
Why do we have green light on this asset at the moment?
-Quarterly vwap breakout
-At the same time we are being supported by the 50 and 200 EMA
-break unconfirmed resistance
If we zoom out to the bigger timeframes, we can also see some rejections of the 50 EMA which indicates that this should be a small position with a bigger stop loss.
Just an idea and always stay safe!
Why do we have green light on this asset at the moment?
-Quarterly vwap breakout
-At the same time we are being supported by the 50 and 200 EMA
-break unconfirmed resistance
If we zoom out to the bigger timeframes, we can also see some rejections of the 50 EMA which indicates that this should be a small position with a bigger stop loss.
Just an idea and always stay safe!
Comment:
No clear take profit zone here so i recommend to set limit sell orders to the most likely points where the price could reverse