ON, looks very strong and has some good support, the resistance is pushing it down, but i believe this is temporary and it will break the resistance upward in the near future. A pull back with a long entry near blue level and then reevaluation at the next attempt to break resistance.
This isn't a high confidence % trade, it is just for projecting patterns and...
LONG TERM -I think we will move sideways before eventually breaking out and up.
SHORT TERM- we should pull back a few % and maybe bounce around sideways before going up. The play is a short based on the resistance and trend line. If we break through both we can play a long, but that is NOT my winning type of play yet.
Enter long at orange. very tight stop. prob exit just before previous high which is appr 38% or so profit. If we closed 75% and let 25% remain. we could have made much more as you see the high is 130% move.
The orange support from 2016 is appearing pretty strong. I would opt for a long. Smaller position sizes since BLDP is volatile. The Downard trend has been...
I don't love this i'm just posting for tracking.
We did miss an easy guaranteed 2% trade. However, this retest so quickly looks bearish and has lots of room to move downwards. I think no trade is best, but i like long with super super tight stop. Let's just watch and see.