Asset and Time frame -TEVA,1W
Entry Price -10.24
Exit(Stop Loss) -9.77
Exit(Take Profit) -11.72
Technical Analysis - Price broke the down-trending line from the start of 2021 with decent volume and pattern, now, the price has retested the 100 Weekly MA, I added a Fibonacci line the latest weekly high and the price is adding some minor confluence because it fits with the weekly MA.
So, we have good volume, good pattern, good resistance/support break with acceleration, pretty much a good trade IMO, only reason not to take this trade is that I didn't give it enough room for a pullback,so for any of you looking for a safer entry, just wait for the 0.618 or 0.50 or 0.382 Fibonacci levels but remember, there's always some risk and no trade will ever be a perfect setup!
Good luck
Entry Price -10.24
Exit(Stop Loss) -9.77
Exit(Take Profit) -11.72
Technical Analysis - Price broke the down-trending line from the start of 2021 with decent volume and pattern, now, the price has retested the 100 Weekly MA, I added a Fibonacci line the latest weekly high and the price is adding some minor confluence because it fits with the weekly MA.
So, we have good volume, good pattern, good resistance/support break with acceleration, pretty much a good trade IMO, only reason not to take this trade is that I didn't give it enough room for a pullback,so for any of you looking for a safer entry, just wait for the 0.618 or 0.50 or 0.382 Fibonacci levels but remember, there's always some risk and no trade will ever be a perfect setup!
Good luck