(BPMX) It is time to take the other road! Plz Take Me away! Hello Traders :)
All the indications I see in AMEX:BPMX tell me that this could be the reversal point. This is one of the moments where we can always decide easily! which trend to take! So here is our strategy :)
Strategy
Aim for a long position for the following reasons!!!
1- Divergence exists in weekly time-frame all the way since 2016!
2- A bullish BAR and the price could not go lower than 0.51$
3- Price Gap between the 3 lines and the price.
Hence, we should place a buy position when the price reaches higher than 0.67$ "it should be a buy stop order ideally". Our loss stop is the lowest price 0.50$ . When your buy order triggers, and you please your stop loss, please sleep on this trade! do not target short term profit!!! just respect our loss stop! I know, we could lose over 32% of our trades!! if you are not comfortable with this loss! then do not get in!
Please note we should not enter the trade if the price did go higher than 0.68$ .
If BPMX price reached 0.68$ and our buy stop triggered, we should place a loss stop immediately as I mentioned above. On top of that, there is a possibility that this is not the end of the trend, therefore, we should place a sell stop order @ 0.50$ . There is also a possibility that there will be a new low to be achieved and this is only for short trading strategy.
Happy Freaking Trading
Harbs
