Square broke a key resistance with strong volume and a strong bull candle. This was following a previous longterm trend failure on the larger green uptrend line back in late June. Price eventually reclaimed the trend-line and continued upward. I am watching for a retest of the broken resistance turned support or some indicator that price holds above here before swinging calls into the Gap above (grey area) to finish filling it.
Trade Idea: If there is no gap up which is very possible, I will wait for price to pull back into
67.02 - 67.97 support zone. Ideally, I want a retrace or touch into the second, nearest blue box for a retracement. After price does either/or, I will wait for a bullish continuation candle to signal an entry.
I will update on entries and exits.
Targets: 70.55, 72.00, 72.60
Stop: TBD but for now, 65.14 or a break and close below support + trend-line
Trade Idea: If there is no gap up which is very possible, I will wait for price to pull back into
67.02 - 67.97 support zone. Ideally, I want a retrace or touch into the second, nearest blue box for a retracement. After price does either/or, I will wait for a bullish continuation candle to signal an entry.
I will update on entries and exits.
Targets: 70.55, 72.00, 72.60
Stop: TBD but for now, 65.14 or a break and close below support + trend-line
Trade closed: target reached:
SQ hit all TPs
Dennis Butler Jr.