ORCL
You don’t need an Oracle to tell you where this one is heading!
ORCL entered the continuation of its uptrend back in Aug.’20.
This uptrend lasted up until Jul’21.
From Jul.’21 – Jan.’22, price formed an Expanding/Reverse symmetrical triangle.
By the end of the Jan.’22, price broke down from triangle. This confirmed the top of the market and the reversal of trend.
Following this breakdown, we saw a Death Cross confirming the bearish conditions in the market.
Since reaching a high of 106, price has now made a series of lower Highs and lower lows. This confirmed the downtrend for ORCL.
The price rejection of the 200ema gives us a good entry point to enter trade short.
Entry: 74.33
Stop loss: 80.88
Target #1: 64.16, +13.51%, +1.5 RR ratio
Target #2: 56.14, +24.32%, +2.69 RR ratio
You don’t need an Oracle to tell you where this one is heading!
ORCL entered the continuation of its uptrend back in Aug.’20.
This uptrend lasted up until Jul’21.
From Jul.’21 – Jan.’22, price formed an Expanding/Reverse symmetrical triangle.
By the end of the Jan.’22, price broke down from triangle. This confirmed the top of the market and the reversal of trend.
Following this breakdown, we saw a Death Cross confirming the bearish conditions in the market.
Since reaching a high of 106, price has now made a series of lower Highs and lower lows. This confirmed the downtrend for ORCL.
The price rejection of the 200ema gives us a good entry point to enter trade short.
Entry: 74.33
Stop loss: 80.88
Target #1: 64.16, +13.51%, +1.5 RR ratio
Target #2: 56.14, +24.32%, +2.69 RR ratio
Trade closed: target reached
Target #1: 64.16, +13.51%, +1.5 RR ratiobless by the savior Jesus Christ
Trade active
target #2 still active
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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.