After a rather steep correction, DOCU's signal to long is triggered today: a bullish divergence as well as a morning star (3 candlesticks) formation. I went long as soon as it surpasses the 1st morning star candlestick's body @ 197 with initial stop @ 192 (below today's candle low).
Planning to scale out partially @ 215 and then around 229 or trail stops upwards...
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Fundamental difference between some of the biggest cyber-security companies:
MOBL stock price seems to be trapped in an ASCENDING TRIANGLE. As you can see the RSI 14 is not overbought so there’s a good range for the price to still go up.
The MACD shows that the bullish momentum is becoming weaker, but I am confident that after the price touches the support line it will become stronger and the price will have an uptrend....
XRP on the weekly chart is still in an overall downtrend but it’s showing bullish signs. Currently trading just around it’s 20ema, also it’s point of control YTD as seen on the volume profile . If we can close above this with above average volume (+104.655M), we can expect more bullish sentiment to follow. I’d be looking to see a brief some resistance around the...
Entered into this EURNZD Long trade after seeing on the lower timeframe, an inverse head and shoulders, along with a morning star formation into a big bullish engulfing candle. Tomorrow I do expect the price to come back down into the drawn areas where I could be looking to enter in further to this position.
Check out more of my free trading analysis further...
Overall TP - 120 Pips
I have highlighted three areas on interest where either bullish engulfing candle was formed or morning star doji candle.
Price is currently entering low consolidation.
I believe we will soon see some bullish movement.
Bitcoin as you can see here on the monthly closed with a bullish morning star, typically when the market creates this types of formations, the market is simply telling us, guys i'm about to go bullish GET READY, sure the market can do whatever it wants to do, that's why we need to have good money management in place, but based on what we see here, the market is...
WHY I TOOK THIS LONG TRADE
1. Divergence between Price and MACD Histogram
2. MACD holding at STOCHASTIC 20 level
3. Price retraced to 38.2% Fib then made new low
4. Price held the -23.6% Fib
5. Price held previous support level
6. Morning Star reversal candle pattern
7. Entry next candle open after #6 pattern
8. SL below swing low
What's up Traders!
Without further due, lets take a look at this pair. As you can see the major trend line is bullish but still at support area. It is good to know that the support area is the fresh area of supply and demand zone (Drop Base Rally). For the chart pattern, it might be performing Double Bottom as reversal pattern but we need to wait for 2 days...