$FIL may retest the previous high.
I saw some people wondering about FIL.
Very interesting chart, so here's my personal trade setup for it.
First of all, the 3 purple ranges are strong support levels which may cause impulses there.
Hence, here's what I will do, but it's a risk with a potential of 80-120% profits for the mid-term and may double your investment.
I think FIL will retest the high!
It broke out of another descneding channel and it now going through major resistance, however, I do believe it may drop down further which is why I have 3 entry points.
Stop loss is far, but you can get out of it if you wish to DCA further on that level and wait for a further rise to get out at breakeven at worse case scenario.
Risky trade, I wouldn't use a big capital on FIL because it's giving me bear market behavior.
However, the volume is showing an accumulation stage, which is where the smart money may come in.
Very interesting chart, so here's my personal trade setup for it.
First of all, the 3 purple ranges are strong support levels which may cause impulses there.
Hence, here's what I will do, but it's a risk with a potential of 80-120% profits for the mid-term and may double your investment.
I think FIL will retest the high!
It broke out of another descneding channel and it now going through major resistance, however, I do believe it may drop down further which is why I have 3 entry points.
Stop loss is far, but you can get out of it if you wish to DCA further on that level and wait for a further rise to get out at breakeven at worse case scenario.
Risky trade, I wouldn't use a big capital on FIL because it's giving me bear market behavior.
However, the volume is showing an accumulation stage, which is where the smart money may come in.
Penafian
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