GILD can be a long candidate..
Hello all
I came across this interesting set up which i wanted to share. Let's take a look at GILD..
Weekly: Strong downtrend. Only thing to see is macd has no momentum now to downside.Ha delta about to go above zero line.
Daily: Its been in downtrend from a year now. Did not follow any rally in indices. So, earnings are coming up this week. There is also a trendline in play here. Macd showing some momentum to upside and hadelta is above zero. Let's see the reaction to earnings and if it breaks above cloud, i don't mind playing it to long side.
There will also be gurus telling you that market is crashing now and tomorrow. But look at the chart and trade what you see. If it is breaking out, its a long. If it is breaking down, it is a short.
Happy trading.
I came across this interesting set up which i wanted to share. Let's take a look at GILD..
Weekly: Strong downtrend. Only thing to see is macd has no momentum now to downside.Ha delta about to go above zero line.
Daily: Its been in downtrend from a year now. Did not follow any rally in indices. So, earnings are coming up this week. There is also a trendline in play here. Macd showing some momentum to upside and hadelta is above zero. Let's see the reaction to earnings and if it breaks above cloud, i don't mind playing it to long side.
There will also be gurus telling you that market is crashing now and tomorrow. But look at the chart and trade what you see. If it is breaking out, its a long. If it is breaking down, it is a short.
Happy trading.
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