SpinTrades

Bullish reversal with a gap to fill above

Long
SpinTrades Updated   
NYSE:SE   Sea Limited
Updated from the earlier idea with adjusted fibs. Where the extension from March to recent monthly highs aligned, I used that fib as marked entry.
  • Solid uptrend established
  • Still oversold on the daily
  • Entry near the fib especially after a successful backtest as support would be a solid entry.
First gap comes from a large space in which there was no candle closures since the gap down; this may not be a technical gap down but may have an impact on price action. The true gap is small and marked within. Either way, this should make a nice move upward through that space.
Trade closed: target reached:
Finally got the move after a close above the fib in the gap, but fell back on market weakness and closed below. Will revisit on market strength.

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