KWEB LONG: DOUBLE DIAMOND + CHANNEL BOTTOM + OSCILLATORS
1. Price has drawn 2 diamonds (diamond in diamond) at the bottom of the increasing (purple) channel. Buy signal.
2. A cycle with a length of 756 days (25 months) is found, according to which the price is now at the bottom of the cycle. Buy signal.
3. All major oscillators and indicators are in oversold zones and give long signals.
4. It is necessary to remember about the resistance of the local downtrend (orange).
* At the same time, the fundamental background in China is still negative.
I entered a long position with a trailing stop loss below the lower edge of the small diamond. After breaking through and/or retesting the upper edge of a large diamond, and then after breaking through the orange resistance, I will buy more. In case the price falls, my trailing sell order will save me.
Not advice. Not a financial recommendation.
2. A cycle with a length of 756 days (25 months) is found, according to which the price is now at the bottom of the cycle. Buy signal.
3. All major oscillators and indicators are in oversold zones and give long signals.
4. It is necessary to remember about the resistance of the local downtrend (orange).
* At the same time, the fundamental background in China is still negative.
I entered a long position with a trailing stop loss below the lower edge of the small diamond. After breaking through and/or retesting the upper edge of a large diamond, and then after breaking through the orange resistance, I will buy more. In case the price falls, my trailing sell order will save me.
Not advice. Not a financial recommendation.
