ORCL 6/7/2022
ORCL
ORCL entered a Sideways range Sept.’21 after trend was broken. The sideways trend lasted until Jan’22
Jan.’22, price broke down from range. The sideways range was deemed a Distribution stage. A downtrend was to follow.
On the breakdown, price made a low of 72 and we also saw a death cross between 50 and 200 ema. This further confirmed the bearish conditions.
After a pullback to resistance, price made another move down and broke below the low of 72 and made a lower low at 66. The Downtrend has now been confirmed.
Currently, price has pulled back to the previous low of 72. Yesterday’s candlestick closed as a shooting star at this resistance level. This will be my cue to enter trade short.
Entering trade short
Entry: 72.86
Stoploss: 77.07
Target: 61.15, 16.07%, 2.78 RR ratio
ORCL entered a Sideways range Sept.’21 after trend was broken. The sideways trend lasted until Jan’22
Jan.’22, price broke down from range. The sideways range was deemed a Distribution stage. A downtrend was to follow.
On the breakdown, price made a low of 72 and we also saw a death cross between 50 and 200 ema. This further confirmed the bearish conditions.
After a pullback to resistance, price made another move down and broke below the low of 72 and made a lower low at 66. The Downtrend has now been confirmed.
Currently, price has pulled back to the previous low of 72. Yesterday’s candlestick closed as a shooting star at this resistance level. This will be my cue to enter trade short.
Entering trade short
Entry: 72.86
Stoploss: 77.07
Target: 61.15, 16.07%, 2.78 RR ratio
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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.