CBDS Working to Get Back Into the RangeOTC:CBDS setting up for a healthy R:R position.
Current price: $0.2297 on 2/1/22. Main entry not yet triggered.
Entry: $0.3226 (Jan high, back into the heart of the major range)
*a more aggressive entry: $0.2499, taking the previous week up.
Stop: $0.1729 (Jan low, losing the bottom of range).
*If you prefer using multiple stops like I do, you could use the December high ($0.2899), the January open ($0.2099), the January low ($0.1729), and the entry or a few points below ($0.3199).
Target: $1.83 - $2.10 (range expansion to the upside)
CBDS broadened the range to the downside. Downside mission accomplished.
The January range can now be used as a decision bar on the monthly.
Taking the month to the upside above $0.3226 would bring price back into the major range with the objective broaden the range to the upside.
