Update to my previous post (see link below).
Daily: MACD and Slow Stoch turning bullish, and the secunder downtrend is breaking. From here we have increasing chance for a correction with possible tgts at 79 and 82,50.
4 Hrs: We had the expected lower low and Price tested the Kumo and 100 WMA. This small move caused buy signals in ROC indicators and DMI, Price broke the downtrendline, but the upper resistance still holds. Now if we believe a counter trend action may take place, we can follow two buy strategies. Place limit buy at 75 - 75,25 retracement level (as Slow Stoch is overbought, we may see one more small dip before the reversal), or stop buy at the break 76,50
Stop loss at 73,90.
Daily: MACD and Slow Stoch turning bullish, and the secunder downtrend is breaking. From here we have increasing chance for a correction with possible tgts at 79 and 82,50.
4 Hrs: We had the expected lower low and Price tested the Kumo and 100 WMA. This small move caused buy signals in ROC indicators and DMI, Price broke the downtrendline, but the upper resistance still holds. Now if we believe a counter trend action may take place, we can follow two buy strategies. Place limit buy at 75 - 75,25 retracement level (as Slow Stoch is overbought, we may see one more small dip before the reversal), or stop buy at the break 76,50
Stop loss at 73,90.
