DT - LONG
Analysis
1. Stock in a strong uptrend as series of steep rallies and small retracements demonstrate as well as 20p MA » bias is to look for long entries
2. Stock has just broken out of all time highs and retraced the day after to the previous resistance area
3. A bullish engulfing pattern was formed in the last candle. Although the candle's size is not significant, there are now two consecutive candles rejecting price as the lower shadows demonstrate » this can be our entry at a value zone
In short, we are trading with the trend, from a value zone since a stop loss is easily set below these price rejection candles/important support level, and we have an entry trigger.
Trade:
1. Go long on the next candle
2. Sloss 1 ATR below 21st of May candle
3. Take profit at the next swing high
Plsd to hear yr comments
Cheers
RR
1. Stock in a strong uptrend as series of steep rallies and small retracements demonstrate as well as 20p MA » bias is to look for long entries
2. Stock has just broken out of all time highs and retraced the day after to the previous resistance area
3. A bullish engulfing pattern was formed in the last candle. Although the candle's size is not significant, there are now two consecutive candles rejecting price as the lower shadows demonstrate » this can be our entry at a value zone
In short, we are trading with the trend, from a value zone since a stop loss is easily set below these price rejection candles/important support level, and we have an entry trigger.
Trade:
1. Go long on the next candle
2. Sloss 1 ATR below 21st of May candle
3. Take profit at the next swing high
Plsd to hear yr comments
Cheers
RR
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.