Reasons for bullish bias: - Entry is at breakout of HH - DOW theory, SL at last HL - Respecting trendline Entry Level: 655.60 Stop Loss Level: 565.08 Take Profit Level 1: 746.12
Comparing two points of price and MACD The MACD is very similar in both points, very over extended This correlates well with the 1.618 fib level, which allows price to move down along the circle as the MACD retraces, as seen in the first scenario (0.618)
LLY has provided a nice long opportunity with the recent break above the major trendline This breakout is comparable to a previous point, which led to a large megaphone price structure Price will likely stay above the trendline and climb within the megaphone (attempted to roughly sketch what it would look like)
Welcome to our Weekly V2-Trade Setup ( LLY ) ! - 4 HOUR Small pullback towards previous sr level. DAILY Expecting more bullish pa! WEEKLY Overall great market structure. - STOCK SETUP BUY LLY ENTRY LEVEL @ 241.21 SL @ 231.90 TP @ Open Max Risk: 0.5% - 1%! (Remember to add a few pips to all levels - different Brokers!) Leave us a comment or like to keep our...
LLY appears to have support holding. And a minor resistance trend line breakout. See chart for target and stop loss