Hypothesis: On the Monthly Timeframe, $445-$420 is a strong area of demand with multiple buys out of this zone since 2020.
Action: Set buy limit orders into this zone, with a stop limit at $414.5. Sell Limit is $560. I will likely sell some positions here and set a trailing stop limit if momentum is good towards the upside.
Action: Set buy limit orders into this zone, with a stop limit at $414.5. Sell Limit is $560. I will likely sell some positions here and set a trailing stop limit if momentum is good towards the upside.
Trade active
I added positions into the demand zone. I also adjusted my stop limit and demand zone to incorporate the .618 FIB retracement level, which lowered my stop limit.
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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.