Square has potential for profitable swing trade as we are in a upwards channel. As we saw last week, price held well against the SPX500 during its correction. We now see that the candle bounced off Span A of the 1 week cloud (shown above): keeping the upwards channel valid. Price is also currently sitting above the 26 average line (red line). This shows us that price wants to move higher before lower.
What to watch (1 week time frame):
- Watch if candle holds above 26 day avg line for entry.
- If price falls under 26 avg line, look for bounce of span A.
- Take profit $100+!
Trade at your own risk.
What to watch (1 week time frame):
- Watch if candle holds above 26 day avg line for entry.
- If price falls under 26 avg line, look for bounce of span A.
- Take profit $100+!
Trade at your own risk.
