I have spend few months reading and learning about Swing trading, I would like to practice on paper trading and will be posting some thoughts for my journal purpose. Its not an investment idea, constructive comments are welcomed.
ACHC making a double bottom in the hourly chart and recently crossed above an important fibonacci resistance level
Even RSI has diverged, going long
But not offering that great of a risk to reward, preferred to take a smaller size
The yellow line shows the original trend line before the first downward movement
The blue lines represent the current trend and its forming symmetrical triangle (www.investopedia.com)
In any normal market, the assumption is that the trend will continue, but considering apple gonna have Earnings and they got heavily impacted...