- After posting the inverted head and shoulders pattern trade in May 2020, target was reached and price consolidated, testing the resistance area around
R57
- We recently broke through and chart looks poised to continue it upward trajectory.
- It would be risky to chase momentum here with a full position. A better entry would be to wait for a possible retest of the resistance now turned support zone or better still, the 100 day moving average.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
* initial long idea in link *
R57
- We recently broke through and chart looks poised to continue it upward trajectory.
- It would be risky to chase momentum here with a full position. A better entry would be to wait for a possible retest of the resistance now turned support zone or better still, the 100 day moving average.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
* initial long idea in link *
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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.
Related publications
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.