GOEV pulled back and is re-entry ready LONG
Updated
GOEV on the 30 min chart had a big trend up from June 30th through July 5th- then pulled
back for two day before a huge momentous move up on Friday July 7th. where it moved
from the support of the mean VWAPs anchored in mid June into overbought territory
two standard deviations above that level. On Monday July 10, price dropped precipitiously
back to those mean anchored VWAPs. The past day was marked by sideways consolidation.
The volume profile shows the heaviest trading volume at just below the VWAPs which is
cross-validating. The Chris Moody MTF RSI indicator shows the lower TF RSI in the past day
has crossed above 50 and now at 60 meeting the higher TF RSI. The zero-lag MACD has the
lines crossing over the zero horizontal line and parallel suggesting a bullish continuation.
Overall, I see a long trade setup with possible significant price movement anticipated perhaps
in the range of 20% targeting the pivot high last Friday.
back for two day before a huge momentous move up on Friday July 7th. where it moved
from the support of the mean VWAPs anchored in mid June into overbought territory
two standard deviations above that level. On Monday July 10, price dropped precipitiously
back to those mean anchored VWAPs. The past day was marked by sideways consolidation.
The volume profile shows the heaviest trading volume at just below the VWAPs which is
cross-validating. The Chris Moody MTF RSI indicator shows the lower TF RSI in the past day
has crossed above 50 and now at 60 meeting the higher TF RSI. The zero-lag MACD has the
lines crossing over the zero horizontal line and parallel suggesting a bullish continuation.
Overall, I see a long trade setup with possible significant price movement anticipated perhaps
in the range of 20% targeting the pivot high last Friday.
Trade active
GOEV did the VWAP bounce proposed by the idea above. Got 6% price movement today. Stop loss raised above break-even. Trade is risk and stress free. As per abovelooking for another 14% in the next two days. Will trim the position and take profits
for the weekend.
Trade active
Pirce beat the target and is still rising. Full posisiton running. Trailing stop loss set.
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