1. Trend Analysis
Downtrend
2. Chart pattern analysis
Channel
3. Indicator Analysis
Weekly 50 SMA proved to be a strong
indicator for breakout( bullish)
RSI high coupled with strong vol (bullish)
MACD looks healthy with buyer
having a slight lead on seller.
4. Primary Trendline(Yellow) Analysis
Past history have always showed a bounce off
followed by a breakout
5. Candlestick Analysis
We have a 4x green soldier coming along
Trading Plan
1. Medium Risk channel trade
Entry: wait for a monthly close above primary
trendline(Yellow) as weekly closure is not
convincing enough for buyer and bb to enter
SL: Monthly close below 1.17
TP(1):1.55 , anticipating a bounce off from channel
Remark:
Expected to reach target at mid Feb 2021
S1:1.17
S2:0.67
Please DYODD
Downtrend
2. Chart pattern analysis
Channel
3. Indicator Analysis
Weekly 50 SMA proved to be a strong
indicator for breakout( bullish)
RSI high coupled with strong vol (bullish)
MACD looks healthy with buyer
having a slight lead on seller.
4. Primary Trendline(Yellow) Analysis
Past history have always showed a bounce off
followed by a breakout
5. Candlestick Analysis
We have a 4x green soldier coming along
Trading Plan
1. Medium Risk channel trade
Entry: wait for a monthly close above primary
trendline(Yellow) as weekly closure is not
convincing enough for buyer and bb to enter
SL: Monthly close below 1.17
TP(1):1.55 , anticipating a bounce off from channel
Remark:
Expected to reach target at mid Feb 2021
S1:1.17
S2:0.67
Please DYODD