Recurring bands of Support/Resistance at play again
Updated
This is my first day on tradvingview, so I'm just exploring - but here's a chart I've been watching for a few months. I've noticed these levels (as indicated by horizontal lines) recur on ARG and we're re-entering them again now on news they had a good Q2-2020. In this view I've tried to show three potential areas for gains, especially where this is a lower price, low buy-in, low risk idea so the key will be accumulating a large enough position to make each band pay well enough to even consider playing.
The main idea here is we should see some resistance at 0.60, which if broken will leap 0.20 to 0.80, and if/when that resistance breaks, a historically significant range jump to 1.00-1.10 could be achieved quickly. With a sub-0.60 entry now, one could cash in half the position at 0.80 to recoup buy-in, and ride the rest to 1.00 comfortably.
The main idea here is we should see some resistance at 0.60, which if broken will leap 0.20 to 0.80, and if/when that resistance breaks, a historically significant range jump to 1.00-1.10 could be achieved quickly. With a sub-0.60 entry now, one could cash in half the position at 0.80 to recoup buy-in, and ride the rest to 1.00 comfortably.
Trade active
Okay, I've added my weight to try and bust through the 0.59/0.60 and hold to 0.75/0.76, heavy position to make the 0.15 worth it. Wish me luck!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.