Risk 1 point to make 1 points on this setup.
I think 44.5 will bring in some buyers so I'm just shooting for that target.
If WFC opens up 0.50, then the odds are better, as my risk is only 0.50 and my target is 1.50 away (3:1).
Longer term, I think this is a major warning sign that this breakout occurred on low volume. Note the high volume days - actually one was a down day (lower-low, and lower-high).
Note also the 200-day moving average is represented as a range since it uses the highs for one line and the lows for the other.
Tim 9:29AM EST, Monday, Feb 3, 2014
I think 44.5 will bring in some buyers so I'm just shooting for that target.
If WFC opens up 0.50, then the odds are better, as my risk is only 0.50 and my target is 1.50 away (3:1).
Longer term, I think this is a major warning sign that this breakout occurred on low volume. Note the high volume days - actually one was a down day (lower-low, and lower-high).
Note also the 200-day moving average is represented as a range since it uses the highs for one line and the lows for the other.
Tim 9:29AM EST, Monday, Feb 3, 2014
Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com