FI 2/8/2021
Analysis:
Daily chart- After long downtrend, price enters a sideways market between 1.57-2.91 for about 300days. Starting Nov. '20, price made a series of higher lows into resistance and finding Support from 200ma, exhibiting the buyers willingness to buy at higher prices. This lead to a price breakout on 1/6/21 and a Golden cross. Price follows that move by pulling back to Resistance area 2.68-2.91 and bouncing off possibly turning Resistance into Support. These series of price action moves leads me to believe the bulls have a very strong presence here. The breakout, pull back, and bounce were my entry signals. Will Zoom in to 1HR chart for possible entry.
1HR Chart- Break out move ran into Resistance area of 3.16-3.22 with a few false breakouts then pulling back to Support area of 2.68-2.91. Price bounced off Support with a series of higher lows into resistance where it has bounce off twice to go along with a false breakout. On both of the previous higher lows, the 10Ma was acting as Dynamic Support and is currently holding the price at Resistance Area with what looks to be a Bullish Engulfing pattern. This is my Entry. I will be setting my Stop Loss at 3.10. We are currently at a Resistance Area and if price were to close below Supporting Area 3.16-3.22 and Supporting 10 Ma, the bounce move up was nothing more than a Swing and Price will be coming back down to Support Area of 2.68-2.91.
Entry: 3.23
Stop Loss: 3.10(-4.11%)
Initial Target: 5.25
Daily chart- After long downtrend, price enters a sideways market between 1.57-2.91 for about 300days. Starting Nov. '20, price made a series of higher lows into resistance and finding Support from 200ma, exhibiting the buyers willingness to buy at higher prices. This lead to a price breakout on 1/6/21 and a Golden cross. Price follows that move by pulling back to Resistance area 2.68-2.91 and bouncing off possibly turning Resistance into Support. These series of price action moves leads me to believe the bulls have a very strong presence here. The breakout, pull back, and bounce were my entry signals. Will Zoom in to 1HR chart for possible entry.
1HR Chart- Break out move ran into Resistance area of 3.16-3.22 with a few false breakouts then pulling back to Support area of 2.68-2.91. Price bounced off Support with a series of higher lows into resistance where it has bounce off twice to go along with a false breakout. On both of the previous higher lows, the 10Ma was acting as Dynamic Support and is currently holding the price at Resistance Area with what looks to be a Bullish Engulfing pattern. This is my Entry. I will be setting my Stop Loss at 3.10. We are currently at a Resistance Area and if price were to close below Supporting Area 3.16-3.22 and Supporting 10 Ma, the bounce move up was nothing more than a Swing and Price will be coming back down to Support Area of 2.68-2.91.
Entry: 3.23
Stop Loss: 3.10(-4.11%)
Initial Target: 5.25
Trade fermée: cible de profit atteinte
Target of 5.25 reached. 62.5% gain. Will look to re-enter
Note
Will buy price break of break 4.31. Target 7.99(86%),
Stop Loss: 4.15(-3.52%)
Transaction en cours
Entry: 3.31Note
stop loss set at 4.08(-5.33%)
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.