Friday’s candle engulfed 2 previous days of price action. I interpret this as strongly bullish, especially since this happened in an already nicely bullish trend. However, the room to the upside it not unlimited - the ATH is at 175.421. We are likely to see sideways price action there due to some profit taking and maybe even some selling. IMO there are 2 possible options to get a 2R return:
- we may get a pullback before the bullish trend resumes.
- we drop down to the H1 chart and look for an opportunity to go long.
Either way, in my opinion, the trade should be closed before the ATH.
This is not a trade recommendation; it’s merely my own analysis. Trading carries a high level of risk so carefully managing your capital and risk is important. If you like my idea, please give a “boost” and follow me to get even more.
- we may get a pullback before the bullish trend resumes.
- we drop down to the H1 chart and look for an opportunity to go long.
Either way, in my opinion, the trade should be closed before the ATH.
This is not a trade recommendation; it’s merely my own analysis. Trading carries a high level of risk so carefully managing your capital and risk is important. If you like my idea, please give a “boost” and follow me to get even more.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.