LRC - risky trade because aren't they all right now!
LRC - risky trade because aren't they all right now! I'm hoping this trendline confirms and then we are looking at a similar push to local resistance as many charts have right now.
I like LRC as it came down fast therefore didn't have a chance to build strong support at higher levels. Regardless, I am again taking conservative targets until the market shows signs of turning around.
If any upcoming candles show green we will be looking at a bullish hidden divergence, and for the most part I am looking at stronger buy volume than sell volume.
Entry - between now and the next horizontal at around 1615 if the diagonal doesn't confirm.
SL - below horizontal at 1595
TP1 - 1760
TP2 - 1835
I like LRC as it came down fast therefore didn't have a chance to build strong support at higher levels. Regardless, I am again taking conservative targets until the market shows signs of turning around.
If any upcoming candles show green we will be looking at a bullish hidden divergence, and for the most part I am looking at stronger buy volume than sell volume.
Entry - between now and the next horizontal at around 1615 if the diagonal doesn't confirm.
SL - below horizontal at 1595
TP1 - 1760
TP2 - 1835
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