Friday we printed a reversal candlestick on the daily chart. (Hammer candlestick with buillish body)
We turned up from the 50 EMA and closed at the daily maximum with high volume.
The RSI left overbought territory. Notice what did it mean in the past. It was always a start of a new rally.
It's bullish.
At least we are going to test the May 2015 highs. And this time I think we will break it through.
We turned up from the 50 EMA and closed at the daily maximum with high volume.
The RSI left overbought territory. Notice what did it mean in the past. It was always a start of a new rally.
It's bullish.
At least we are going to test the May 2015 highs. And this time I think we will break it through.
Note
We have a swing today on the daily chart. The swing traders are on the long side now.Chart ahs worked off the bad chinese news.
Note
BOOM!It was a start of a new daily cycle 2 dayys ago.
This is going to run to new highs now.
Note
I didn't like today's price action. We gave back half of yesterday's gains.-0,77% is not horrible but I would've liked to see one more up day before a pullback.
We see what tomorrow brings. If we close below the hammer (2036) I suggest to close positions here.
Note
Big reversal today.This is the 2nd bullish pin bar in the double bottom pattern.
Also a key reversal candlestick.
A low risk entry with a stop below 2034.
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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.