WLD Buy
Updated
It has clearly broken the down trendline from its ICO.
After the breakout, we had the throwback, and currently it has broken the previous high, making a higher high (HH) (As it has 3 consecutive closes above 1.505).
A good stop loss (SL) is the 1.250 level, which is also the Fibonacci (FIB) 78.60% level based on the ICO day candle.
Next resistance could be the area around 2.000, which is also the Fibonacci (FIB) golden pocket (GP) level based on the ICO day candle.
After the breakout, we had the throwback, and currently it has broken the previous high, making a higher high (HH) (As it has 3 consecutive closes above 1.505).
A good stop loss (SL) is the 1.250 level, which is also the Fibonacci (FIB) 78.60% level based on the ICO day candle.
Next resistance could be the area around 2.000, which is also the Fibonacci (FIB) golden pocket (GP) level based on the ICO day candle.
Note
Short-term traders can put a stop loss below 1.684 as we had a Gravestone Doji candle the day before and a close below the current up trendline yesterday.However, those who take more risk can hold the position to check whether we hold the 1.545 level, which is a previous high.
Note
As I mentioned yesterday, SL has been hit for the short-term traders. They can watch whether the price action makes a low above 1.545 and breaking the recent candle body high of 1.797 on closing basis for thinking about another entry.Note
Those who still hold WLD can maintain their holding until the 1.507 level (Most recent closing low of 1D chart) is broken. Can expect further upside if price breaks the recent closing high of 1.797. Anyway, GP between 1.949 - 2.113 can still act as a resistance.
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