[b|Trade ldea:
Price is significantly above the 200 EMA showing very strong bullish pressure. Both the 100 EMA and
the 50 EMA are also above the 200 EMA so we are only looking for longs on this asset. Price action
recently had been super strong and heading to the upside which is another confluence to enter long on
this asset. Price has also been respecting as upwards trendline which again is another confluence to
enter long on this asset. This trade is setting up nicely for us however it isn't fully there yet. First we
need to see either a pullback to our level of support with a bullish entry signal to enter long or we need
to see a break and retest of the level of resistance for support and then a bullish entry signal to enter
long. We prefer the idea of a break and retest as it shows that the bullish momentum is continuing
however we also see the first setup as a good trade to enter into. As the setup isnt quite here yet we
need to stay patient and wait for the setup. Until then we will be waiting because as traders we need to
be disciplined and stick to our plans exactly
Disclaimer:
This is my opinion on this asset at the time. This is not financial advise. Don't take this trade blindly, do
your own analysis first before entering. Feel free to use this analysis to assist you with yours. Feel free
to leave any comments you have. Good luck!
Price is significantly above the 200 EMA showing very strong bullish pressure. Both the 100 EMA and
the 50 EMA are also above the 200 EMA so we are only looking for longs on this asset. Price action
recently had been super strong and heading to the upside which is another confluence to enter long on
this asset. Price has also been respecting as upwards trendline which again is another confluence to
enter long on this asset. This trade is setting up nicely for us however it isn't fully there yet. First we
need to see either a pullback to our level of support with a bullish entry signal to enter long or we need
to see a break and retest of the level of resistance for support and then a bullish entry signal to enter
long. We prefer the idea of a break and retest as it shows that the bullish momentum is continuing
however we also see the first setup as a good trade to enter into. As the setup isnt quite here yet we
need to stay patient and wait for the setup. Until then we will be waiting because as traders we need to
be disciplined and stick to our plans exactly
Disclaimer:
This is my opinion on this asset at the time. This is not financial advise. Don't take this trade blindly, do
your own analysis first before entering. Feel free to use this analysis to assist you with yours. Feel free
to leave any comments you have. Good luck!
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.
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.