Think this is going down. Tested the month resistance hope it holds
I suspect a pullback, to the black line witch is a month trend line that was broke the second time since 2004. The first one was a fake out... I think this is not a fake out. Down grade and the unsurtanty in the market i can not see this as a buy. It broke resistance. I am waiting for a pull back. Then i am selling as indicated!
It has good support. Think if this come down for retest..... Good entry
Orange line is resistance blue lines looks like a triangle
Few things i love about this trade 1) Head and shoulders 2) It is has broke resistance on week but i think it is only a stop hunter. It is on its way back down
On week support. On daily trend line....... Low risk trade.
It broke out of trend and retested. With a reverse head and shoulders pattern. I am in
Missed the bounce play on month support. Lets wait for a breakout and retest.......
Vodacom looks like a short. If the falling wedge goes throug it would trigger a head and shoulders. There are big support on 11000 10500 and 10000....... It is on a down trend.
Very good setup. If you look at the black lines(month trend lines) every time the candles touched it it made a big up side move. Week trend is up. Day trend is up 4h trend is up. Waiting for the retest then i would enter.