I missed this long trade, but the green circle with arrow would have been a nice entry point. We had some bearish divergence and declining volume, so an ideal exit would have been the center line in my opinion if I was taking a short term trade. Using the 618 fib as a stop and the channel centerline as a TP would have given a 3.35 Risk/Reward trade. I would take that any day of the week.
On another note, VEN is really hot right now. It's being heavily talked about in the forums and has really positive news which will further contribute to it's uprise over the longer term.
On another note, VEN is really hot right now. It's being heavily talked about in the forums and has really positive news which will further contribute to it's uprise over the longer term.
Commentaire:
Broke the channel to the down side. Keep an eye on price action and volume. 618 fib below.