Entry here would be very low risk. We have:
- bullish continuation pattern (ascending triangle)
- triple hidden bullish divergence on MACD on 4h chart
- price sits right at a support level/trendline that held multiple times
- RSI support on 4h chart
Stop loss here could be very tight, just below the support level/trendline that we are hugging right now. It feels like recent price action was affected by Russell rebalancing and it might be a case of people selling the news but I wouldn't panic just yet. Zooming out the overall trend is still very bullish adding to the argument.
- bullish continuation pattern (ascending triangle)
- triple hidden bullish divergence on MACD on 4h chart
- price sits right at a support level/trendline that held multiple times
- RSI support on 4h chart
Stop loss here could be very tight, just below the support level/trendline that we are hugging right now. It feels like recent price action was affected by Russell rebalancing and it might be a case of people selling the news but I wouldn't panic just yet. Zooming out the overall trend is still very bullish adding to the argument.
Trade closed: stop reached:
Maybe it's just a fakout but looks like the idea failed amid broader market correction.
Comment:
back in the structure, i hope it can run up to test the top