hi traders,
1. The chart shows REMX has experienced a significant downtrend since late 2021/early 2022, reaching levels last seen around 2020.
2. Entry Strategy (Green Box):
The idea is to enter long positions as the price approaches or bounces from this established support area, anticipating a reversal or a significant rebound.
3. Stop-Loss ($30):
A stop-loss is crucial to limit potential losses if the support level fails and the price continues to decline, invalidating the bullish thesis.
4. Price Targets (Purple Arrows and Red Lines):
Target 1 (First Purple Arrow & Red Line): The first target is around $98.01. This level acted as significant resistance/support in the past (around mid-2022 and early 2021).
Target 2 (Second Purple Arrow & Red Line): The second, more ambitious target is around $124.26 to $123.08. This represents a major resistance level from the 2021-2022 peaks.
These targets are based on previous price action, aiming to capture a substantial portion of a potential recovery. The two targets allow for a tiered profit-taking strategy.
* Summary of the Trading Idea:
This trading idea is a long-term bullish bet on REMX, based on the assumption that the ETF is currently near a significant historical support level and is due for a substantial rebound. The strategy involves accumulating positions in the identified entry zone, setting a stop-loss below the key support, and aiming for two distinct profit targets corresponding to prior resistance levels. The time horizon for this trade appears to be medium to long-term, potentially extending into 2026-2028,
1. The chart shows REMX has experienced a significant downtrend since late 2021/early 2022, reaching levels last seen around 2020.
2. Entry Strategy (Green Box):
The idea is to enter long positions as the price approaches or bounces from this established support area, anticipating a reversal or a significant rebound.
3. Stop-Loss ($30):
A stop-loss is crucial to limit potential losses if the support level fails and the price continues to decline, invalidating the bullish thesis.
4. Price Targets (Purple Arrows and Red Lines):
Target 1 (First Purple Arrow & Red Line): The first target is around $98.01. This level acted as significant resistance/support in the past (around mid-2022 and early 2021).
Target 2 (Second Purple Arrow & Red Line): The second, more ambitious target is around $124.26 to $123.08. This represents a major resistance level from the 2021-2022 peaks.
These targets are based on previous price action, aiming to capture a substantial portion of a potential recovery. The two targets allow for a tiered profit-taking strategy.
* Summary of the Trading Idea:
This trading idea is a long-term bullish bet on REMX, based on the assumption that the ETF is currently near a significant historical support level and is due for a substantial rebound. The strategy involves accumulating positions in the identified entry zone, setting a stop-loss below the key support, and aiming for two distinct profit targets corresponding to prior resistance levels. The time horizon for this trade appears to be medium to long-term, potentially extending into 2026-2028,
💥 Free signals and ideas ➡ t.me/vfinvestment
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.
💥 Free signals and ideas ➡ t.me/vfinvestment
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.