$MAS Masco Corp - Range breakout this week with close above resistance.
Ideal entry is a pullback and successful retest of support near $60.
Medium term target - $75 possible by August (~25% return)
Note: This is NOT investment advice. Educational only.
42.53 ENTRY PRICE.
38.28 10% STOP LOSS.
44.66 5% TARGET.
46.78 10% TARGET.
RSI above 50 with a steep incline.
Volume at 100% +.
Price above 200 sma uptrend bias.
Hugh large Bullish engulfing candle.
Price above both all ma's.
Price had a bullish breakout of range top.
Price closed above 50 sma for a bullish bias.
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We have an interesting setup in GBPSGD, look to enter longs at market open, on dips to support or if we get new highs.
There is potential for the weekly uptrend to resume as well, but ideally we'd want to see price move in our favor right away. As usual, risk a max of 1-2% on this trade if you take it. Stop loss orders should be below Friday's low to be...
Long position towards monthly downtrend. 250+ pips
Bullish engulfing confirming bullish sentiment and bias along with ma's.
Along with the clear bounce off the 50% fib level and monthly support level towards 38.2% fib.
Price action at 38.2% will further confirm my position.
I reccomend going long USDSGD, both with a 3 times the daily ATR stop loss, as well as a tighter stop below 1.3506.
There seems to be evidence of a bottom forming here, and we can expect a sharp rally to fire soon, and resume the long term uptrend in this pair.
Fundamentals favor a turn, or at least a mejor retracement and a sideways market.
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Interesting developments in this pair, unlike SGDJPY, seems like the uptrend can resume from here.
Price found support at a strong level from the previous uptrend, and came down forming 7 waves, an ABCXABC correction.
If we see a move off this consolidation, which is strong enough, I'll try to go long asap.