-Healthy impulsive leg down (going long @ the bottom would be buying into weakness- which is a good thing).
-Bottoming pattern carved out (low, followed by a lower low, but, sellers are unable to test the lower low and buyers step in to print a higher low).
-Worth mentioning- the 2nd push back off the lower low was greater than the first off the original swing low- this is critical and a powerful representation of underlying orderflow. If sellers were in control, we wouldn't have seen bulls make a higher high.
-Oversold stochastic starting to rotate up slowly
-Stops are either a) beneath the lower low b) a few points beneath the original swing low
-Target is origin of the move which converges with a 764 FIB level (monitor price around 50 FIB), may need to book .5 position then move stops to break-even.
-Bottoming pattern carved out (low, followed by a lower low, but, sellers are unable to test the lower low and buyers step in to print a higher low).
-Worth mentioning- the 2nd push back off the lower low was greater than the first off the original swing low- this is critical and a powerful representation of underlying orderflow. If sellers were in control, we wouldn't have seen bulls make a higher high.
-Oversold stochastic starting to rotate up slowly
-Stops are either a) beneath the lower low b) a few points beneath the original swing low
-Target is origin of the move which converges with a 764 FIB level (monitor price around 50 FIB), may need to book .5 position then move stops to break-even.
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.