I. Analysis
1. Stock in an uptrends- bias is long
2. Strong gap up on the 26.06 on massive vole
3. Short term downtrend has been closing gap ad prce is now leaning against 50 MA, already with 2 candles showing signs of rejection.
In short, we have an uptrend, price is leaning against a value zone (50MA converging with gap closure area) and we're just missing the right entry trigger.
II. Trade
1. Entry: wait for a bullish engulging patter on the daily timeframe / break of structure on the 1H timeframe
2. TP next swing high (39.5) or at the following level (43) dependeing on yr r/r requirements/trade management startegy
3. SL 1 ATR below 50 MA
Plsd to hear yr comments.
Cheers
Ruben
1. Stock in an uptrends- bias is long
2. Strong gap up on the 26.06 on massive vole
3. Short term downtrend has been closing gap ad prce is now leaning against 50 MA, already with 2 candles showing signs of rejection.
In short, we have an uptrend, price is leaning against a value zone (50MA converging with gap closure area) and we're just missing the right entry trigger.
II. Trade
1. Entry: wait for a bullish engulging patter on the daily timeframe / break of structure on the 1H timeframe
2. TP next swing high (39.5) or at the following level (43) dependeing on yr r/r requirements/trade management startegy
3. SL 1 ATR below 50 MA
Plsd to hear yr comments.
Cheers
Ruben