Ever since that crazy drop MRSN has been rangebound. As you can see, the channel can be split into two smaller channels. This is the ideal scenario to buy the bottom and sell the top. The Stochastic RSI is your best friend in this type of setup. If you are more conservative, wait for the candle to touch support and look for a bullish crossover on the RSI. That is your "buy" signal. However, as you can see from the vertical lines, every time the Stoch RSI crossed bullish the price went up, even if the candle was not touching support. The price move was smaller in those cases so you would have a little less profit. Any of these strategies would be lucrative here. Your risk is minimal because you can exit if the channel is broken to the downside.
Safe trades!
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
Safe trades!
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
Note
Getting there:Note
Get ready to pull the trigger!Note
Now!Note
Keep an eye on those moving averages. They may offer some resistance.Note
If the Stoch RSI hits that first resistance level and the candles are not above the moving averages I will close part of my position.Note
Just one more EMA and we will be very close to the first target!Note
And we are above the 21-ema:Note
Sold my shares here. Waiting for another entry:Note
Looks like people want to keep trading the channel lol:
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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.
Related publications
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.