High Probabily trade for Midea (Long)Hi all,
Based on a number of signals suggesting upward momentum, I have initiated a long position with a Risk Reward of 2.5.
Sideways support held
Rising trendline support held
Returned close to 200MA
Long term upward trend
Rising volume
What makes this trade even more attractive in value for me is that the upward momentum actually started the day before, but due to a sudden announcement of COVID in Beijing, there was a small pullback. Beijing announced that is under control and I think it
FUYAO GLASS Parabolic Move Soon?! (Correction)Hello traders,
I rushed a bit and didn't express the idea precisely. Here is the updated chart.
The three rising valleys has been completed before so the falling wedge is the only pattern to pay attention to.
The following facts still hold:
1. Triple bullish divergence .
2. Forming a falling wedge as a continuous pattern of a bullish trend .
3. This chart is extremely similar to that of PDD before taking off.
100% measured move will be ~43.67% from the breakout point.
This trading idea
FUYAO GLASS Parabolic Move Soon?!Good morning/afternoon/evening traders,
FUYAO Glass has flipped the long-term resistance into a solid support level. This one could give us an EXTREMELY lucrative trading opportunity based on the following facts:
1. Triple bullish divergence.
2. Forming a falling wedge as a continuous pattern of a bullish trend.
3. Three rising valleys that might give ~76% profit as the 100% measured move.
4. This chart is extremely similar to that of PDD before taking off.
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