The present price action is supported by 50dma , the long term trendline and the 0.618xa of the bullish bat in formation
SO with such supports, an entry on the long here makes sense..
But there seems to be a bear flag and the price action might temporarily breakdown to the PRZ limit of the BAT and spring from the LPS LAst point OF support ..Another/alternative long entry can be planned there
There could be multiple Support taking from the lower support end of the Trading range, which can be further entries in the future
But the biggest and best Risk Reward entry point is the Breakout Show of strength area...
The target has been calculated on a conservative basis, on a point figure chart mentioned here,....
Disclaimer... Not an investing trading recommendation
SO with such supports, an entry on the long here makes sense..
But there seems to be a bear flag and the price action might temporarily breakdown to the PRZ limit of the BAT and spring from the LPS LAst point OF support ..Another/alternative long entry can be planned there
There could be multiple Support taking from the lower support end of the Trading range, which can be further entries in the future
But the biggest and best Risk Reward entry point is the Breakout Show of strength area...
The target has been calculated on a conservative basis, on a point figure chart mentioned here,....
Disclaimer... Not an investing trading recommendation
Trade fechado manualmente