TRADER-WANNA-BE

TLS.ASX_Retracement Trade_Long

Long
ASX:TLS   TELSTRA CORPORATION LIMITED
ENTRY: 4.06
SL: 3.89
TP: 4.29

- ADX<20. Would like to be higher.
- RSI>50,RSI<70
- Daily RS +ve
- Daily FFI +ve
- Daily MACD -ve
- Weekly RS +ve
- Weekly FFI +ve
- Weekly MACD -ve
- Retracement to resistance turned support level since breakout of range on 18 Nov 2021.
- Volume dry up on 22 Nov 2021.
- Weekly chart shows possible hidden buying last week.
- Need to account for possible to retrace further to 38.1% fib. level.
- If break previous high 4.09, should expect further price movement up.
Trade closed: stop reached: - Hit shifted SL: 4.14
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