FI 2/8/2021
Analysis:
Daily chart- After long downtrend, price enters a sideways market between 1.57-2.91 for about 300days. Starting Nov. '20, price made a series of higher lows into resistance and finding Support from 200ma, exhibiting the buyers willingness to buy at higher prices. This lead to a price breakout on 1/6/21 and a Golden cross. Price follows that move by pulling back to Resistance area 2.68-2.91 and bouncing off possibly turning Resistance into Support. These series of price action moves leads me to believe the bulls have a very strong presence here. The breakout, pull back, and bounce were my entry signals. Will Zoom in to 1HR chart for possible entry.
1HR Chart- Break out move ran into Resistance area of 3.16-3.22 with a few false breakouts then pulling back to Support area of 2.68-2.91. Price bounced off Support with a series of higher lows into resistance where it has bounce off twice to go along with a false breakout. On both of the previous higher lows, the 10Ma was acting as Dynamic Support and is currently holding the price at Resistance Area with what looks to be a Bullish Engulfing pattern. This is my Entry. I will be setting my Stop Loss at 3.10. We are currently at a Resistance Area and if price were to close below Supporting Area 3.16-3.22 and Supporting 10 Ma, the bounce move up was nothing more than a Swing and Price will be coming back down to Support Area of 2.68-2.91.
Entry: 3.23
Stop Loss: 3.10(-4.11%)
Initial Target: 5.25
Daily chart- After long downtrend, price enters a sideways market between 1.57-2.91 for about 300days. Starting Nov. '20, price made a series of higher lows into resistance and finding Support from 200ma, exhibiting the buyers willingness to buy at higher prices. This lead to a price breakout on 1/6/21 and a Golden cross. Price follows that move by pulling back to Resistance area 2.68-2.91 and bouncing off possibly turning Resistance into Support. These series of price action moves leads me to believe the bulls have a very strong presence here. The breakout, pull back, and bounce were my entry signals. Will Zoom in to 1HR chart for possible entry.
1HR Chart- Break out move ran into Resistance area of 3.16-3.22 with a few false breakouts then pulling back to Support area of 2.68-2.91. Price bounced off Support with a series of higher lows into resistance where it has bounce off twice to go along with a false breakout. On both of the previous higher lows, the 10Ma was acting as Dynamic Support and is currently holding the price at Resistance Area with what looks to be a Bullish Engulfing pattern. This is my Entry. I will be setting my Stop Loss at 3.10. We are currently at a Resistance Area and if price were to close below Supporting Area 3.16-3.22 and Supporting 10 Ma, the bounce move up was nothing more than a Swing and Price will be coming back down to Support Area of 2.68-2.91.
Entry: 3.23
Stop Loss: 3.10(-4.11%)
Initial Target: 5.25
أغلقت الصفقة: تم الوصول للهدف
Target of 5.25 reached. 62.5% gain. Will look to re-enter
ملاحظة
Will buy price break of break 4.31. Target 7.99(86%),
Stop Loss: 4.15(-3.52%)
تم فتح الصفقة
Entry: 3.31ملاحظة
stop loss set at 4.08(-5.33%)
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.