Aiming to enter a new monthly uptrend, planning on a move to the 40$ area and uptrend to 47$-52$ area, resting area and a release of all the stored accumulation energy to the 3 digits prices.
Although the entry is in the daily, weekly timeframe also merges soon, potenial entry zone for long distance runner, if not, still a valid early trend entry on the small daily-weekly time-frames. hopefully the upcoming momentum will be enough to distance from current location and proceed to the higher timeframes trend potential.
Buy the reversal back to the trading range, if strong follow-through continues, then we want to see the break of range and pullback to range high, then high potential for trend continuation.
For your long swing account. You will have many opportunities to add more to the trade so still once reaching 1:1-or-more ratio remember to consider taking profits to remove your risk.
higher timeframe shows shift in sentiment with strong momentum to the downside, potential location to join to new downtrend, as true for all my trend ideas: make sure to not take all off at your target and ride the trend if the idea was successfull.
Remember to manage your position, take your profit and add when its right. if all goes well, enjoy the ride, highly likely we will need to fasten our seat belt with this one.
"Bargin price", after failed news and into supply zone + oversold zone. evidence of buyers and increased volatility, could be a quick one.
Handle risk with caution, weekly timeframe is definetly not what i like so it can turn out to be a loser, but those sometimes turn out to be huge if momentum proceeds so a smaller risk can still do well. new trend potential if support holds above trading range.
Buy the next succesfull reversal above the trading range for entering an early trend
MRC attempts to break its range, recent consolidation and far enough oversold area could allow it the breathing air it requires to get there, although a stronger breakout was preferred.