In my opinion moving in this chart is uptrend although market especially in EUR is not so safe for trading but i suppose this company has own trend and it has started very nice rally .don't miss it
This call has been made by looking at past examples of this exact pattern where wave 3 is close to 1.618 the length of wave 1 and wave 5 is also 1.618 times the length of wave 1. What I have found in the past is that the 5th wave ends very close to, if not exactly at the 2.618 extension of wave 1, taken from the end of wave 2 (in this case the 2.618 extension is...
I guess RWE will turn down soon as it finishes this 5 wave move.
This set up has a very good RRR (risk to reward ratio) and should very likely yield a profit. As this is the 5th wave, the last wave of buying is occurring and once it finishes, there will be no more people to hold the market up. Panic selling will occur which will cause the price to retrace down to usually the 38.2% retracement of all 5 waves, or the end of the 4th wave.
I am on a long trade since 16.97€. I will just hold and see if we get the break of the neckline of this cup with handle...
I can't recommend this trade (high risk)... RSI oversold, different support levels...
I trade this in the following way: Support around 19.75/19.80 Stop Loss: 19.35 Entrance: roughly 19.85 Close: 22.00 Risk/Reward Ratio: close to 5
What I am looking for is peaks, bottoms and where stocks struggle. Here we can see that RWE AG is in a flat territory for the past week or so and possibly be forming a nice short. Lets see!
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Entry: €15,25 T1: €16,50 Stop: €14,65 extra info: IF targets did not hit in 4 weeks the position gets closed at market price. IF target hits 5% we sell 50% of the stock.
Guys, nice short ahead! A black closing marubozu with increased volumes might suggest to us that uptrend is over! Bearish divergence detected on oscillators. It is a good short opportunity. Profit targets at 16.70 Euro.
uptrend ...entry point is sure confirming above tl
uptrend ...breaking a pivot
in my strategy RWE has started an uptrend by a big bullish candle
Price recently broke a significant SR Line. First Take Profit is at the 1.618 Fib. Line.