Bullish setup, nice place to add and see if we will test for the top again. Long term trend is very bullish (see weekly)
if we move to the 15min view, it looks like we missed our chance to add in this dip, and monday I expect this to shoot up on opening, however still plenty of room to move up higher, so using a trailing stop loss we will decide entry monday morning.
Trading the swings here on INGA when she goes sideways and then long again up. Trailing stoploss for unpleasant corrections (it's a bank afterall, any surprise in the news could move her back down)
Trade active:
We entered low and now looking to see if INGA holds up. Watch the weekly, you see the blue line slanting down towards a cross with red? if that weekly trend becomes bearish we will see a correction. So we need to watch this closely.
Meanwhile I still see potential for this to go up so I am in this trade with a stoploss, let's see if we can day trade the stock and make some money before it decides to alter it's direction.
On the 15min we still see opportunity, let's see if she can climb higher and sell at that top, then we will move down and see where she lands, it could be a new bottom at around 8.182 or just above, if not we might re-test 8.11, worst case it breaks down and we re-trace back towards 7.93
Meanwhile I still see potential for this to go up so I am in this trade with a stoploss, let's see if we can day trade the stock and make some money before it decides to alter it's direction.
On the 15min we still see opportunity, let's see if she can climb higher and sell at that top, then we will move down and see where she lands, it could be a new bottom at around 8.182 or just above, if not we might re-test 8.11, worst case it breaks down and we re-trace back towards 7.93
Comment:
Comment:
Comment:
INGA weekly is showing a change, this could be the turning point for INGA and we could see a correction if stoch crosses downwards on the weekly.
15min chart also shows a top and we made a lower high and lower low so I do expect we are going to move further down, it's ok to trade the swings, but short term INGA might become a short, before it is again a great LONG opportunity, Let's see if sellers take over in the next days, if not we might continue sideways and climb back up to the previous channel and try to make another run up.
INGA weekly is showing a change, this could be the turning point for INGA and we could see a correction if stoch crosses downwards on the weekly.
15min chart also shows a top and we made a lower high and lower low so I do expect we are going to move further down, it's ok to trade the swings, but short term INGA might become a short, before it is again a great LONG opportunity, Let's see if sellers take over in the next days, if not we might continue sideways and climb back up to the previous channel and try to make another run up.
Trade closed: stop reached:
sorry had no time to update, we played it sideways for a bit on the swings then we stopped out on this stock, banks are in for a big correction, no increasing rates, slow down of vaccin rollout, we will pull back for a while now until prospects of economic recovery and control over covid spread are brightening, possible end of Q1 2021, looking at weather and vaccin rollout times.