ET formed a bullish A&E formation and broke above the neckline on strong volume on 7th May, creating a breakaway gap often seen at the early stage of a sustainable trend. It then pull back to retest the neckline before rebounding again (another classic breakup and retest to shake out the weak bulls).
Long with initial stop loss below the neckline @ 9.28. Trail stops up as trade goes our way. Expected A&E target is around 13.80. No guarantees but the odds are in our favour.
Disclaimer: TA is about improving our odds of a successful trade, but there is no guarantee. This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Feel free to le me have your comments! :)
Long with initial stop loss below the neckline @ 9.28. Trail stops up as trade goes our way. Expected A&E target is around 13.80. No guarantees but the odds are in our favour.
Disclaimer: TA is about improving our odds of a successful trade, but there is no guarantee. This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Feel free to le me have your comments! :)
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.
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.