Strong uptrend yesterday followed by healthy retracement which has support along the to of the slope.
The first target is the parallel line drawn above the slope.
The first target is the parallel line drawn above the slope.
Comment:
Note 2.36 seems to be a significant level. One strategy is to take profit here and reenter when this line becomes support
From the daily chart we can see that rounded and W shaped bottoms have occured before
Remember we are in a very bearish market so do not expect huge moves (that do not retrace promptly).
Note 2.36 seems to be a significant level. One strategy is to take profit here and reenter when this line becomes support
From the daily chart we can see that rounded and W shaped bottoms have occured before
Remember we are in a very bearish market so do not expect huge moves (that do not retrace promptly).
Trade active:
enter at 2.10
stop 1.99
stop 1.99
This is an Andrews pitchfork drawn from November low but shifted slightly to capture price movement