Long
FRGE-setup for bullish continuation from a pullback LONG
FRGE hin the past couple of trading days has had a 20% pullback consistent with a 50%
Fib retracement of the prior trend up which occurred over 2 weeks. Bullish divergence
on the two time frame RSI indicator where the lower TF RSI bounced up from the 20 level
in oversold territory suggests a reversal is impending. So does the mass index indicator
with a value in the reversal zone awaiting a trigger with a drop below 26.5. The range of
the HA candles have suddenly decreased and the color red to green. I will take pullback going
long trade here expecting a quick 10-20% profit while targeting 2.88 just below the POC line
of the visible range volume profile. The volume void from 2.6 to 2.8 should allow for quick
upward price action as the void needs to be filled.
Fib retracement of the prior trend up which occurred over 2 weeks. Bullish divergence
on the two time frame RSI indicator where the lower TF RSI bounced up from the 20 level
in oversold territory suggests a reversal is impending. So does the mass index indicator
with a value in the reversal zone awaiting a trigger with a drop below 26.5. The range of
the HA candles have suddenly decreased and the color red to green. I will take pullback going
long trade here expecting a quick 10-20% profit while targeting 2.88 just below the POC line
of the visible range volume profile. The volume void from 2.6 to 2.8 should allow for quick
upward price action as the void needs to be filled.
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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.