Life is simple...Trade with Simplicity!
*The trend direction: Uptrend. (Must not break the S2 to maintain the trend)
*The Bottom signal (White bar) sighted on 04-Dec.
*Price tested the lifeline (Redline) & close slightly below.
*The Bell alert appeared on 10,12-Dec, a signal continuation of momentum.
Prediction: Correction back to immediate support S1. Candle...
Refer chart for the LIONIND Trading idea
- Note that the current trend is still in downtrend. Probably they will have some technical rebound
- Strategy can be short/mid/long term and Target Price (TP) you can decide on your own
- Target risk : reward is 1:2
> Price at support channel @ 0.425 and rebound to 0.435.
> Beware of price at this support
> QR report come out at 30 th August. Previous QR report is bad.
> bad QR report will affect price and might go to next support.
From the diagram, A zone where price is deemed WEAK in the short term period. Only progressive rebound can be seen trading in the short term. But failing to SURPASS the RALLY POINT will only put the price into a longer term of downtrend price action.
Lion Industries is uptrend counter need more patient to get better result.
My TA criteria
Now price is consolidated at descending triangle pattern.
Buy On Breakout Entry when breakout this pattern. Cut loss if below 0.925 or below EMA 50,
or Buy On dip if price f
1. Reversal candle appear
2. stochastic oversold
3. Retrace at Fibo 38.2 or 61.8%
4. Between EMA...
Super rally in Aug! Over 40% gain if u bought at the breakout
Pullback from recent high and price action still shows selling, but with 38.2 lvl at 1.04 and EMA 20 (Blue) & EMA 200 (Orange) around 1.00 region. Price unlikely to break lower than 1.00. My take is that 1.00 psychological level would be the demand zone.
An entry around 1.02 would be conservative....
![LIONIND: [stereobiru] LIONIND Trading Idea](https://s3.tradingview.com/i/ifCv3QkK_mid.png "[stereobiru] LIONIND Trading Idea")
