Based on the RSI there is a bullish divergence and the macd is about to cross over.
There are many times the resistance around 8 has been tested.
I plan on waiting for confirmation for a good candlestick, take profit at 9 ,where there is more resistance and re-enter on confirmation as there is quite a bit of resistance around the 9 level, which could also provide a short opportunity.
Would be a nice Christmas present if it swings up to 11
There are many times the resistance around 8 has been tested.
I plan on waiting for confirmation for a good candlestick, take profit at 9 ,where there is more resistance and re-enter on confirmation as there is quite a bit of resistance around the 9 level, which could also provide a short opportunity.
Would be a nice Christmas present if it swings up to 11
Comment:
upon further review it appears there is another resistance at 8.77 but the trade would still be a decent risk to reward trade with the new target.
Comment:
Trade failed, should had known after dec 2nd and should and predicted it by looking at nov 21, where there was a strong rejection on 8.20 and it failed to act as support a couple days later.
Furthermore, using an ichimoku indicator a big red cloud is above the candles, so its unlikely it will reach the intended target, let alone 8.20.
Live and learn.
Furthermore, using an ichimoku indicator a big red cloud is above the candles, so its unlikely it will reach the intended target, let alone 8.20.
Live and learn.
Comment:
Guess I lost confidence in my own trade too early and should not had used so many indicators