Long based on doji formed from support line. Lots of negative momentum has been stopped temporarily. Tight stop will be in place with a direction to be determined like the overall markets after the midterm elections. Anticipating positive movement before the elections as long positions are taken for a short rebound, opposed to a longer downtrend which will offer a much longer window to capture gains if the downtrend continues.
Note
Running into resistance at 20day ma stop loss set for half of the position at todays low and remaining at entry price.
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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.