Initiated a long position when I noticed the box forming.
I initiated it inside the box because there was already a false break to the downside so I figured another break down is unlikely
TP is the top of the structure - 1.22600
SL is below the rectangle - 1.21807
For a 3:1 RRR
Entry comes after the pin bar form on rectangle resistance turned support at price level 2133.07. Resistance level turned support has four or more touches. Closing price of pin bar is near the price value of exponential moving averages. EMA s are pointing up which indicates an up trend.
Exponential Moving Average Period 10: 2119.21
Exponential Moving Average...
Nice multi month consolidation on BAND .
The chart has formed a rectangle pattern which will either lead to reversal or continuation.
The rectangle pattern can be successfully traded by buying at support (143) and selling at resistance (190) or by waiting for a breakout from the formation.
With all the moving averages rising to support the price I would bet...
Based on my fundamental analysis I have set a price target of $275 for CRM. Watch for CRM to make another attempt to break out of the rectangle in the near future. If price comes down from current level before breakout attempt and bounces off support it will be an excellent buy opportunity. If a breakout of the rectangle does occur I believe we will more than...
Since my last publication on this pair (see link below), it appears the Resistance level @ Y126.620 is not holding as price finally breaks out of this level last week to find a new Support level (Demand zone).
Despite Europe having a lead over Japan when it comes to vaccination; The unfolding Covid-19 situation and other global events might have its toll on this...
A double bottom/ rectangle top breakout here on CHGG that confirmed today with a retest to the new support at 88.5.
Short term target according to the pattern would be 114.5
Share your thoughts! :)