Long
ABR break of consolidation, buy 1st pullback, Median Line exit
ABR had been in a range since early November. Price broke the range, tested the ML, and we now look to see if prior resistance holds as support.
There is a tiny red bar back down to support, but has minimal volume. Not much in the way of sellers showing up. The next green bar probes the old resistance area, and holds above it. A break of this bar or the prior low volume red bar provides an entry point, for the first pullback. The next couple of days provide opportunities to get long as price consolidates above the resistance.
Ride the t/p up along the ML, with an opportunity to establish a stop/profit along the way. Out for 3.4RR.
It looks like sellers showing up at the round number 3.00
There is a tiny red bar back down to support, but has minimal volume. Not much in the way of sellers showing up. The next green bar probes the old resistance area, and holds above it. A break of this bar or the prior low volume red bar provides an entry point, for the first pullback. The next couple of days provide opportunities to get long as price consolidates above the resistance.
Ride the t/p up along the ML, with an opportunity to establish a stop/profit along the way. Out for 3.4RR.
It looks like sellers showing up at the round number 3.00
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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.