Get started
Long

PolyOne - Long - Swing Trade

By Channibal
Updated
  • Picked this up from the weekly scan ended the week with a NR3 and NR7 combo.
  • The weekly bar also ended with a hammer-like shape with a slight upper shadow.
  • The Fib on the Weekly shows the next resistance level at ~$30
  • Break-out Signal on -2w bar
  • Prices closed just above fast EMA on the weekly, with the slow EMA hovering around $29 (a bit lower than I would have hoped.)
  • Overall volume in 2016 has been higher than Q4-15, while prices appear to establishing a 'base' between $23 and $26 during 16'
  • Bull Flag on the Daily Chart with a NR7 + hammer-like bar on the last day, with support from the rising EMA that has just crossed-over late last week
  • Volume had been contracting throughout the week, until Friday
  • However, the Daily NR3+7 combo painted earlier this week did NOT immediately yielded anything!
  • Long entry above the bull flag pole with Target set just under $30
Trade active
Entered Long today.
Trade active
Moved Stop to BE.
Trade active
Moved Stop to 5ema.
Trade active
Moved Stop to today's Low; Ready to exit.
Trade closed: stop reached
Closed trade today; Stopped today; +2R
Daily ChartsFibonaccinr3nr7swingWeekly Charts

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.