GOMX LONG
Long: 12.20
SL: 10,38
TP: ?
A company that has had a downturn, being unlucky with a specific customer.
They seem to be on their way back on track.
Even though the idea is mostly based on TA, with a Fibonacci levbel of 61,8 bounce, RSI + BB oversold.
POC, support (previous resistance) and a nice pinbar on W1.
This is not financial advice
1G2 trade ideas
GOMX Long. TrendI'm new but I have seen trends like this before and for the first time I have made my own chart of what I think is gonna happen. Hope you enjoy it, and please write to me if you think you can teach me something about making charts like these. Perhaps you have better ways to make sure the trend is true. Thank you
Cup & Handle Formed, wait for breakoutLooks like we have a classic cup and handle formed.
We had Volume dry-up on the way down and in the bottom of the cup and shaked the weak hands out. Then followed by lots of volume on the way up and dry-up again through the handle of the cup.
To minimize risk we need to to wait for volume to increase and break the resistance at the high of the cup and then the pattern will be complete.
Control your risk, have tight stops and targets in mind before entering a trade.
Disclaimer; this is not a trading advice, do your own due dilligence.