Not in a position but doing this chart for a friend.
Was trading in a bullish channel; however, has broken the channel upwards.
The black lines are the longer bullish channel and blue lines are shorter support/resistance lines.
I'd sell my POWER position till it pulls back and finds support at the black line.
If it doesn't hold the black line, then it's likely to be a BEAR flag.
DISCLAIMER:
I'm not a pro so take my advice at your own risk. Happy trading everyone! :)
Was trading in a bullish channel; however, has broken the channel upwards.
The black lines are the longer bullish channel and blue lines are shorter support/resistance lines.
I'd sell my POWER position till it pulls back and finds support at the black line.
If it doesn't hold the black line, then it's likely to be a BEAR flag.
DISCLAIMER:
I'm not a pro so take my advice at your own risk. Happy trading everyone! :)
Nota
Sorry folks, I was wondering why the trade didn't work out and just learned the pattern 'ascending channel' so this should have actually been a buy signal on the dip!Nota
Hindsight:If I could re-do this chart, I would have drawn the blue upper trend line much longer and argued that after breaking the blue line - it could pull back.
All in all, learned some new patterns today.
Nota
This is my new take on POWER. I believe it's trading within the range of those blue lines.
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.