I don't know. It just feels bullish, as if it wanted to retest those highs very soon. And if it does it, without retracing to 0.382, it is even likely to make new highs.
ictradersbrasil
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Yes, possible. 0382 will be the target to do partial profit and the point to move the stop to breakeven. I hope this be triggered. Thank's for your comment, ForceFollower adn dojitrader.
Good trades to all you!
ictradersbrasil
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There's no valid entry for now. The two times for entry was triggered already. The valid entry (MY OPINION): 1 -after the breakout of the trendline. 2 - hen re-test the broken trendline, wait for one valid reversal candlestick pattern to do it.
Good trades to you! :)
dojitrader
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OK ! So you're basing this trade on the "ascending" trend line
and the stops would go at or above the dotted line, right ?
ictradersbrasil
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1st trade is based on the breakout of this trendline. 1st stop if one candle CLOSE above the top (dotted line). 2nd entry is based on retraction of this breakout movement. Wait one strong bearish candlestick pattern, normally between 50.% and 61.8 of fibonacci. The stop can be at top (use close value), above this strong pattern or at 86.48% of fibonacci from last bearish rally. There's no exactly setup. Every trade have yourself sentiment, because if you strong candle (with strong volume) break this actual bearish channel, i can will close this trade.
Good trades to you, dojitrader!
dojitrader
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Just to clarity . . .
The entry is at the current descending trend line and the
stop is at the dotted line ?
Or wait for a retracement to the higher down trend line ?