On this trade a confluence of four signals is present for me to take advantage of this mid to long-term opportunity:
1) Hidden weekly bullish divergence on both RSI & MACD
2) Past weekly support (looking left)
3) Weekly Bullish Engulfing candle
4) Touch at long-term uptrend line
Some people would say the entry is premature as the market short-term is in a downtrend, but this is my way. Until we get a break of the weekly engulfing candle, we will add on pullbacks. And if we get the break, then we will wait for another weekly candlestick formation. It is a probability game and the area at which the market is positioned right now, long is the higher probability direction. Happy trading week !
1) Hidden weekly bullish divergence on both RSI & MACD
2) Past weekly support (looking left)
3) Weekly Bullish Engulfing candle
4) Touch at long-term uptrend line
Some people would say the entry is premature as the market short-term is in a downtrend, but this is my way. Until we get a break of the weekly engulfing candle, we will add on pullbacks. And if we get the break, then we will wait for another weekly candlestick formation. It is a probability game and the area at which the market is positioned right now, long is the higher probability direction. Happy trading week !
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.