An intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
Strong upward trend with high momentum.
Price is consolitating, however, buyers seem to be strong (i.a. recent downward candlestick has deep lower shadow). Therefore speculating on upward break with strong momentum.
If price does come back to 119.50 a long position will be taken.
The “Bullish Harami Cross” implies that the buyers are in control, Stock is trading firmly above the 20-day and 40-day MA lines, A buy signal appears in the MACD indicator, Potential uptrend above the 50 pts on the 14-day RSI indicator: Price may break above the USD220.