Reasons for entering trade:
LOCATION: Double bottom forming off of .618, not yet confirmed.
Price currently between .618 and .786 from fib off of breakout and uptrend from 2017.
MACD: Triple bullish Divergence (Market Structure in MACD)
WILLY: Coming out of oversold (Market Structure in Willy)
VOLUME: Green bar Impetus
Notch in volume profile needs to be filled
Huge gap needs price discovery
At POC for support.
Cons:
No moving average convergence
Would like to see price action form W at a little lower level between most recent .618 and .786
Fundamentally:
Cisco is a leader in video conferencing, strong fundamentally against a backdrop of Covid isolation and quarantine. Unfortunately, lots of other very significant events happening in the US and globally that could disrupt and invalidate any TA.
Trade: R/R 6.4:1
CSCO
Front run the double bottom formation and enter trade off of .618 @ $38.74. Set stop just below bottom of potential W formation at $37.44. Sell order at $45.79 for the whole position at a fill of the notch, a revisit to the gap, and a touch of volume high on volume profile.
*Not trade advice, for entertainment purposes only. DYOR
LOCATION: Double bottom forming off of .618, not yet confirmed.
Price currently between .618 and .786 from fib off of breakout and uptrend from 2017.
MACD: Triple bullish Divergence (Market Structure in MACD)
WILLY: Coming out of oversold (Market Structure in Willy)
VOLUME: Green bar Impetus
Notch in volume profile needs to be filled
Huge gap needs price discovery
At POC for support.
Cons:
No moving average convergence
Would like to see price action form W at a little lower level between most recent .618 and .786
Fundamentally:
Cisco is a leader in video conferencing, strong fundamentally against a backdrop of Covid isolation and quarantine. Unfortunately, lots of other very significant events happening in the US and globally that could disrupt and invalidate any TA.
Trade: R/R 6.4:1
CSCOFront run the double bottom formation and enter trade off of .618 @ $38.74. Set stop just below bottom of potential W formation at $37.44. Sell order at $45.79 for the whole position at a fill of the notch, a revisit to the gap, and a touch of volume high on volume profile.
*Not trade advice, for entertainment purposes only. DYOR
Nota
*PapertradeDagangan ditutup: hentian tercapai
Stop Loss, triggered, trade set-up failed.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.