kgiap123

PENTA H1 Looks Weak but there's Opportunity

kgiap123 Updated   
MYX:PENTA   PENTAMASTER CORPORATION BHD
Penta is hovering around 4.5 Support area.
Daily chart still BULLISH and UPTREND. = Good
No Fast Turtle Sell = Good
FiFT still +ve = Good
Higher Timeframe still healthy.

However, ATOM sell and FiFT turned -ve on H1 chart (Sign of weaknesses)
PENTA still healthy as long as price staying above 4.5

Setup opportunity.
1) Option 1 Monitor hourly Chart.
Set alert notification on FiFT with condition SlowAvg crossing above 0 (FiFT turned +ve)
Set alert notification on ATOM Crossing 1.000 (ATOM Buy)
Once getting greenlight from FiFT and ATOM, wait for FAST TURTLE BUY breakout. SL below 4.40 (Short term Trade)

2) Option 2. Fast Turtle Buy based on Daily chart with condition FiFT is higher than previous bar. SL below 4.40 (Short Term trade)


Comment:
Gap up.. Missed an opportunity.
4.70 seems to be good low timeframe support.

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