I. Analysis
1. Stock in a healthy uptrend with swing lows either testing or getting close to the 50 MA
2. Price trading at the value zone - 50MA area
3. Strong bullish engulfing candle at this area - candle nearly 1,5x one ATR (14)
We have a trend giving up a long bias, price in a value area and a strong bullish engulfing providing us with a reliable entry trigger and a clean trade.
II. Trade
1. Enter next candle
2. SL 1 ATR below 50 MA
3. TP next swing high for swing traders or the cross below and hold of the 50MA for trend followers
Plsd to hear your feedback.
Cheers
Ruben
1. Stock in a healthy uptrend with swing lows either testing or getting close to the 50 MA
2. Price trading at the value zone - 50MA area
3. Strong bullish engulfing candle at this area - candle nearly 1,5x one ATR (14)
We have a trend giving up a long bias, price in a value area and a strong bullish engulfing providing us with a reliable entry trigger and a clean trade.
II. Trade
1. Enter next candle
2. SL 1 ATR below 50 MA
3. TP next swing high for swing traders or the cross below and hold of the 50MA for trend followers
Plsd to hear your feedback.
Cheers
Ruben