What a beautiful opportunity here, let me walk you through the several indicators here that show we should enter a long position here.
1) The BB Rejections. The price has attempted to go below the bollinger bands for four times earlier and every time it resulted in a significant rejection. The market closed exactly on another bearish breakout attempt. I expect the price to increase again after this attempt.
2) Support & Resistance Prices are in a sideways channel at the moment, and we can see that the support zone has been hit. This has been an area where the price bounced twice before. Making us more confident the price can go up.
3) Confluence We see two signals at the same time: confluence! Any signal becomes much stronger if you see multiple tell-tales that confirm the same idea.
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- Trading Guru
-------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
I hope for a bounce. Just one more time, the last time. Then, it's time to dive.
Trading-Guru
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@larsenica, We're definitely not at the peak of what Corona has in store for us... Better purchase some diving gear. I'm hoping this scalp will be valid for the short-term as after big drops, often there is a moment of consolidation before the next big spike comes.
Hic-Sunt-Leones
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LMAO
Trading-Guru
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I will be posting more of these regularly, so follow me to find out about great trading opportunities
Trading-Guru
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How would you have charted this? Feel free to post a link to your own idea here as well
Trading-Guru
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I’m curious to hear your thoughts! Let’s make use of the fantastic tradingview community and give eachother feedback.
ChargingBull
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@Trading-Guru do you see an inverted candle stick on the weekly?
Trading-Guru
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@ChargingBull, Not really, which candle are you referring to? This one?