Bullish Confirmation Indications
Recent price action has confirmed a reversal by pumping upwards and forming a higher high.
1. Price has formed a higher high
2. It has formed a Golden Cross
3. After forming a Higher High, price failed to continue upwards and is now pulling back
4. This pull back has come down and has entered in the Buy Zone and Fib retracement zone of 50% - 78.6% of $2.20 - 2.35
5. There is also a trendline support and price may bounce at the lower end of the channel support of $2.20
6. There is a High Volume Profile Zone at $2.20 (another confluence)
7. I will be confident to buy in the $2.20 - $2.35 region (Buy Zone).
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Recent price action has confirmed a reversal by pumping upwards and forming a higher high.
1. Price has formed a higher high
2. It has formed a Golden Cross
3. After forming a Higher High, price failed to continue upwards and is now pulling back
4. This pull back has come down and has entered in the Buy Zone and Fib retracement zone of 50% - 78.6% of $2.20 - 2.35
5. There is also a trendline support and price may bounce at the lower end of the channel support of $2.20
6. There is a High Volume Profile Zone at $2.20 (another confluence)
7. I will be confident to buy in the $2.20 - $2.35 region (Buy Zone).
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Comment:
Comment:
SCP is looking good. It has retraced to the Buy Zone as expected and has shown Bullish Candles with slightly Higher Volume. After making a golden cross, it has retraced to the 200 SMA and then moved up. AS we an see that the 200 SMA is angling up, I expect SCP to consolidate a bit before moving higher.
Comment:
Comment:
SCP is pulling back as expected, and I think it should give a good buying opportunity in the Green Box (Buy Zone) of $2.20 - $2.35. There is also High Profile Volume Zone, Trendline Support and the 200SMA, many Confluences in the same Zone. Lets see how it behaves in that Green Box.