Hi guys, just a quick update as I am at work at the moment.
For sellers, it's very nice profits. If you have taken some profits as per my advice, you can now move your stop loss to $6950 or $7200 and leave the remaining positions open until mid $5k.
For buyers, it will be a risky buy as the short term trend is still downwards (mentioned in my last post). There is a possible bullish bat pattern that may work, with confluence of the crucial support that I mentioned previously. Although it's good risk reward, the probability of it stopped out is more than likely. (Remember, trend is your friend). To be safer, wait for a doji followed by a bullish candle (or any other bullish candle pattern) to enter.
Taiwan Bear
Last analysis:
For sellers, it's very nice profits. If you have taken some profits as per my advice, you can now move your stop loss to $6950 or $7200 and leave the remaining positions open until mid $5k.
For buyers, it will be a risky buy as the short term trend is still downwards (mentioned in my last post). There is a possible bullish bat pattern that may work, with confluence of the crucial support that I mentioned previously. Although it's good risk reward, the probability of it stopped out is more than likely. (Remember, trend is your friend). To be safer, wait for a doji followed by a bullish candle (or any other bullish candle pattern) to enter.
Taiwan Bear
Last analysis:
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