Our Stock of the Day / GOOGL
Today we have a long setup to share. Here you will see a full explanation of it.
a) We can see the price above a major Resistance zone now working as a support
b) On that level, we have a corrective structure (ABC pattern), which is considered a bullish continuation pattern
c) We don't have any major resistance on the way towards the all-time highs zone. That provides us with a high-quality zone to develop long setups
d) Entry, Stop, and Take profit are the ones you can observe on the chart. The break-Even level will be the horizontal yellow line at the first Fibonacci Extension
e) We will risk 1% of our capital on this trade
f) We will cancel it if the price goes below the corrective structure
g) Remember: Trade safe, protect your capital, and always understand what you are doing.
a) We can see the price above a major Resistance zone now working as a support
b) On that level, we have a corrective structure (ABC pattern), which is considered a bullish continuation pattern
c) We don't have any major resistance on the way towards the all-time highs zone. That provides us with a high-quality zone to develop long setups
d) Entry, Stop, and Take profit are the ones you can observe on the chart. The break-Even level will be the horizontal yellow line at the first Fibonacci Extension
e) We will risk 1% of our capital on this trade
f) We will cancel it if the price goes below the corrective structure
g) Remember: Trade safe, protect your capital, and always understand what you are doing.
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