Feb 12: 23.00 AEDT Ok here is one for the oil bulls. This stock has been beaten up recently, but the falling wedge and solid volume support at $3.60 and $3.90 suggests ST potential. Weekly Support is rising underneath, but at $3.50+
Ok the Trade: Buy now on the bullish gap bar at $3.90 SL $3.80 TP#1 $4.10 TP#2 $4.40 RR := 50/10 If it fails - re-enter at the bottom of the body gap/Weekly support. Buy $3.60 SL $3.50 Tgt $4.40 Profit less our loss above RR 70/10 Tgt is the upper body gap during WTI push higher and the rising tide. Warnings: It has not broken downtrend; There is a 13m short position overhang; The body gap under; Positives: Oil and USD rising - good for the bottom line; Bullish last 3 bars and its above the T-Line; Indicators and BBs (not shown) are positive.
My position: Break out (fake) then pull back to lower gap then rally - but it depends upon Oil, UUS an the S&P500 := Quick long, short, long
This is an opinion not a guarantee and ... just my 2c worth ...
ความคิดเห็น
Mar 6 STO has hit the buy zone with 2 x dojis/spinning tops. Volume was solid Friday and it gapped down. Both long underpins suggest (to me) there is bullish absorption. Short closed Friday - Long opened today. Weekly support is now at $3.56 with your stop just under that. For an interesting view on candles and charts in general see Tom Bulkowski at thepatternsite.com Patience and confidence ... just my 2c worth