COF.ASX_Bearish Pullback Trade_ShortENTRY: 1.58
SL: 1.65
TP: 1.375
- ADX>25
- Daily RS -ve
- Daily FFI -ve
- Weekly RS -ve
- Weekly FFI -ve
- Moving averages are aligned.
- Stoch RSI dipping down.
- First breakdown on 2 Aug 2022
- Second breakdown on 7 Sep 2022 with retracement to near 10EMA and support-turn-resistance area (1.625).
- Entry based on today >3% rebound off 10EMA but would like volume to be higher.
COF trade ideas
COF - Trade PlanMy Trading Bias for CSL is Bullish because after forming a High High, it has confirmed that it is in an uptrend. The recent pullback at Fib Retracement level of 78.6% has been good support, and Bullish price Action with a break of the Bearish Trendline coupled with High Volume indicates that COF should continue to the upside.
TP1 - $2.150
TP2 - $2.230
Stoploss - $1.870
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
