BIAS : LONG
Rationale:
After a successful breakout from a bearish trend, price action has finally come in the control of bulls with the HHs ad HLs in the making. At current levels we can take long entry with protection right below the recent HL. Our short term targets are set at the immediate resistance levels. Price action has bounced from a support level which also coincide with the 0.618 Fib level so there is a confluence favoring an upward move.
What are your thoughts?
Rationale:
After a successful breakout from a bearish trend, price action has finally come in the control of bulls with the HHs ad HLs in the making. At current levels we can take long entry with protection right below the recent HL. Our short term targets are set at the immediate resistance levels. Price action has bounced from a support level which also coincide with the 0.618 Fib level so there is a confluence favoring an upward move.
What are your thoughts?
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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.