Testing for support, Not the time to buy- In weekly chart price get Fiboncci Retreatment 50%, is support;
- In daily chart a downtrend
- Price testing support zone
- There has been no sign of any sudden change in volume, liquidity is still declining.
Current action: it is too early to make a buying decision, observing it seems necessary to expect additional create price in this area;
Long signal base on Pivot and WMAThis strategy is used to catch the long signal for a long uptrend, it should be satisfied the conditions below:
- The long signal on Pivot is appear
- The volume is larger than its MA20
- The WMA 5 is crossing up WMA 10
This strategy is not useful in short signal, you should decide it by your expected profit or:
- Take profit when the price cut BB on top
- Take profit when the price get raised but the volume is less than its MA20/2