Just a simple play in an upwards channel
Only issue I have is is that there is rejection on the bottom of the channel.
Taking a closer look we see some bullish
divergence meaning it wants to go in.
I would not enter the trade until I see it enter back into the channel and it has a nice wick on the hourly indicating clear rejection of bottom of the channel. A nice risk to reward play that can take as little as 5 days to complete!
Only issue I have is is that there is rejection on the bottom of the channel.
Taking a closer look we see some bullish
divergence meaning it wants to go in.
I would not enter the trade until I see it enter back into the channel and it has a nice wick on the hourly indicating clear rejection of bottom of the channel. A nice risk to reward play that can take as little as 5 days to complete!
Note
Entered at 3.9. Good luck to other people following this :)
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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.