Pros: - Strong uptrend confirmed by SMA lines 20>50>100>150>200 - MACD ticking up - Force index ticking up and above 0 - Hammer confirmation (suppor retested and tail did not touch support)
Cons: - Hammer volume is relatively low. Ideally a higher volume on hammer would be prefered. I am currently testing the theory to ignore volume and rely more on force index. It make more sense to rely on price movement + volume to make a decision instead of just volume alone. - The channel range is not broad enough to target 3R confidently.
Trade looking good over the past 2 days been bullish
Good signs. - MACD ticking up - Force Index ticking up
Neutral: - Hammer-ish candle on 13 Nov. Seems to appear abit too early after only such a short rally. I've looked deeper into that candle and it still seems bullish with huge buying volume towards the end pushing up the price.
Bad signs: - None yet in my opinion
Conclusion: Continue riding it up
Comment
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14 Nov 2019
Good signs: - Bear volume is small
Neutral: - MACD ticking to about the same value
Bad Signs: - Early inverted hammer - Force going down
Trade looking good over the past 2 days been bullish
Good signs.
- MACD ticking up
- Force Index ticking up
Neutral:
- Hammer-ish candle on 13 Nov. Seems to appear abit too early after only such a short rally. I've looked deeper into that candle and it still seems bullish with huge buying volume towards the end pushing up the price.
Good signs.
- MACD ticking up
- Force Index ticking up
Neutral:
- Hammer-ish candle on 13 Nov. Seems to appear abit too early after only such a short rally. I've looked deeper into that candle and it still seems bullish with huge buying volume towards the end pushing up the price.
Bad signs:
- None yet in my opinion
Conclusion: Continue riding it up