As QLYS breaks its minor downward trendline , a long position is entered with a tight stop.
Factors leading to the decision:
Long-term trend is bullish, medium term has been sideways
As we're nearing the top of the sideways range, approaching the resistance at 90 and 95 might offer a good opportunity for an even bigger breakout
A recent small retracement back to the trendline AND 20ma created a higher-low which is an ideal place to put a tight stop for the trade
20 SMA was recently crossed and held, luring in MA traders
As always, use a tight-stop. If it rips up, let it run and trail stops behind.
Factors leading to the decision:
Long-term trend is bullish, medium term has been sideways
As we're nearing the top of the sideways range, approaching the resistance at 90 and 95 might offer a good opportunity for an even bigger breakout
A recent small retracement back to the trendline AND 20ma created a higher-low which is an ideal place to put a tight stop for the trade
20 SMA was recently crossed and held, luring in MA traders
As always, use a tight-stop. If it rips up, let it run and trail stops behind.
Trade closed manually
After being up 10% on this trade, 2 big bars killed all profits and stopped it out.
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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.