Bullish potential detected for WFC
Updated
WFC represents a potential bullish opportunity should momentum continue and newer highs be made.Entry condition:
(i) breach of the upper confines of the Darvas box formation - i.e.: above high of $61.76 of 23rd April.
Stop loss for the trade (based upon the Darvas box formation) would be:
(i) below the support level from the low of 3rd May (i.e.: below $59.12) - most conservative exit, or
(ii) below congestion area composed of volume profile zone and rising 10 day moving average (i.e.: below $60 area).
Trade active
UPDATE (week ending 17-May): Trade activated on 10th May as share price exceeded the top of the Darvas box formation. Stop loss raised to $59.90 ($0.79 above one tick beneath base of Darvas box, based upon the high reached within the trading week - $62.55, which is $0.79 above the high of the Darvas box).
Detailed commentary about this trade available here:
- youtube.com/watch?v=y5eqsVO_LPs (Stocks and bonds - latest scans timestamped in comments)
- youtube.com/watch?v=xP7cxQrgF4g (Crypto review)
Like/subscribe for the latest!
- youtube.com/watch?v=y5eqsVO_LPs (Stocks and bonds - latest scans timestamped in comments)
- youtube.com/watch?v=xP7cxQrgF4g (Crypto review)
Like/subscribe for the latest!
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