Well, things look pretty bullish:
I'm long.
- We broke the inverse H&S line
- We broke the steepest downtrend line
- We broke daily 200EMA
- Daily MACD crossed up (a few days ago)
- Daily MACD has formed a long term bullish divergence since December
- RSI broke up (a few days ago)
I'm long.
- Entry: 8800
- Target 12400 (1D cloud, low volume node, horizontal resistance / previous break down point)
- Original stop was 8300 for a 7:1 risk/reward ratio. Now moved up to BE.
Note
Target updated to 12150 after further consideration.Note
Trade still active. Waiting patiently for target.Trade closed: stop reached
Stopped out of my long for a good profit, but licking my wounds a bit from not having taking some profit in the 11000s.
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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.