PLUG: WATCH FOR BREAK OUT OF THE ICHIMOKU CLOUD
PLUG ICHIMOKU ANALYSIS:
The price is currently supported by Kijun, Tenkan and 20 and 50 EMAs, with Kinjun and Tenkan about to cross over. The price action is building pressure for a move above the 2 following resistances:
1. the current candle is just at the top of the cloud, looking for a break out.
2. The lagging span is stuck below the 100 EMA and the cloud. Watch for a retest and a potential break.
I'm entering a long trade on Plug.
Good risk vs reward trade as a stop can be placed just below the 50 EMA. Success will also depend of the overall market next week.
All targets on the chart.
Trade safe.
The price is currently supported by Kijun, Tenkan and 20 and 50 EMAs, with Kinjun and Tenkan about to cross over. The price action is building pressure for a move above the 2 following resistances:
1. the current candle is just at the top of the cloud, looking for a break out.
2. The lagging span is stuck below the 100 EMA and the cloud. Watch for a retest and a potential break.
I'm entering a long trade on Plug.
Good risk vs reward trade as a stop can be placed just below the 50 EMA. Success will also depend of the overall market next week.
All targets on the chart.
Trade safe.
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