Long
ASX: Wellness & Beauty Solutions
Factors
1. Price has experienced a very LT downtrend
2. EMA is converging
3. Price is approaching the top of the LT downtrend line
4. There is an overhead gap at 2.2c & 2.9 which I would be looking to target.
Possible Reasons For Failure
1. Base may not form
2. Prices may continue to downtrend
3. No bullish price action/candlestick pattern to initiate breakout trade
Watchlist and keep an eye on trendline break as well as 1.1c & 1.5c level.
1. Price has experienced a very LT downtrend
2. EMA is converging
3. Price is approaching the top of the LT downtrend line
4. There is an overhead gap at 2.2c & 2.9 which I would be looking to target.
Possible Reasons For Failure
1. Base may not form
2. Prices may continue to downtrend
3. No bullish price action/candlestick pattern to initiate breakout trade
Watchlist and keep an eye on trendline break as well as 1.1c & 1.5c level.
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.
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.