An intraday (daily time frame) BackTested Analysis.
Price is likely to move sort, into the trending channel. It would be a good opportunity to enter in the market if price moves between 52.46 to 53.11 during first moments after the opening bell.
1) Three tops of ROC Oscillator diverge pointing sort movement.
NOTE: ENTRY RANGE AREA ABOVE THE ENTRY POINT, IS CALCULATED UPON 80% OF THE RECORDED PULLBACK BACK TESTED PAST PERFORMANCES
DETAILS ON THE CHART DISCLAIMER: THIS IS A TECHNICAL ANALYSIS STUDY, NOT AN ADVICE OR RECOMMENDATION TO INVEST MONEY ON.
Trade active
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Price has reached two times (51.37 & 51.41) already the Take Profit point (51.30) See diagram attached. For securing our position we move our Stop Loss to the entry point and we stay focus to initial target at 51.30
Best regards
Trade closed: target reached
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Target reached at 51.28 without reaching the entry point at 52.46.
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Comment
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A complimentary study revealing the Bat Pattern confirming our analysis. (Details on chart):
Comment
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A multi top divergence confirming the trend reversal observing the RSI & CCI Oscillators.(Details on chart):