At the moment, Very is on a long term down trend since March.
This is alarming because it means there will be bag holders.
The 3.50 level is interesting and so is the current level of 2.70~
The trade setup is one of my favourites. If you catch it as it is turning around, you could reap some rewards on a swing trade.
The question is when to enter the trade.
I am watching closely for the conditions to turn around.
This is still very bearish. Lower highs and lows lows since March.
I am waiting for it to break above the long term trend and to confirm that with a second candle OR to break above the long term trend at a level of support. At which time I will enter the trade with a stop loss set.
Just waiting for now.
This is alarming because it means there will be bag holders.
The 3.50 level is interesting and so is the current level of 2.70~
The trade setup is one of my favourites. If you catch it as it is turning around, you could reap some rewards on a swing trade.
The question is when to enter the trade.
I am watching closely for the conditions to turn around.
This is still very bearish. Lower highs and lows lows since March.
I am waiting for it to break above the long term trend and to confirm that with a second candle OR to break above the long term trend at a level of support. At which time I will enter the trade with a stop loss set.
Just waiting for now.
Comment:
I am now in this trade. It has shown all the revesal signs I want. Trading above avg volume, crossing over long trend line and moving averages with some good news to back it up.