Bullish Pennant formed out of a correction following a strong uptrend.
Target price set at new potential Resistance bounce.
- Historical Uptrend
- RSI and STOCH above 50
- MACD above Signal
Suggested Entry $37.37
Suggested Stop Loss $36.16
Target price $43.61
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
Target price set at new potential Resistance bounce.
- Historical Uptrend
- RSI and STOCH above 50
- MACD above Signal
Suggested Entry $37.37
Suggested Stop Loss $36.16
Target price $43.61
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
Note
I will wait for further confirmation of the support line before placing the trade. Empty candles usually show indecision on price direction.Note
Updated:Suggested Entry $36.70
Suggested Stop Loss $35.82
Target price $43.61
Order cancelled
Didn't take the trade due to negative fluctuating price action. Looking back, this was a pity as the price moved broke through as expected.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.