This is MELANIA on the 1-day chart.
First, I want to emphasize the bullish divergence on the RSI, which started on April 21, while price continued to drop, RSI held or even moved higher.
Second, although we’re still below the 50MA and the chart doesn’t yet have a 200MA, both systems are long:
• PSAR is bullish
• MLR > SMA > BB Center
Third, it appears a base has been forming since June 27.
All these factors combined led me to open a long position, but of course, this is just my view, not financial advice.
Always take profits and manage risk.
Interaction is welcome.
First, I want to emphasize the bullish divergence on the RSI, which started on April 21, while price continued to drop, RSI held or even moved higher.
Second, although we’re still below the 50MA and the chart doesn’t yet have a 200MA, both systems are long:
• PSAR is bullish
• MLR > SMA > BB Center
Third, it appears a base has been forming since June 27.
All these factors combined led me to open a long position, but of course, this is just my view, not financial advice.
Always take profits and manage risk.
Interaction is welcome.
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.