Wait for the break, then trade the breakout
Updated
as we see, we are coming from a double top, heading to a crucial S/R (Support / Resistance). The support was tested several times already and is likely to break.
Still I reccommend you to wait till it is fully broken! Then enter your positions. If you are conservative, wait for the pullback after the breakout. If you are speculative, I recommend you to place a tight SL (Stop Loss), in order to cut losses early (if it breaks out, it will do so without going back up too far...)
-EMA 200 tells us to sell
-Two month downtrend tells us to sell
-Doubletop formation tells us to sell
-Trend is our friend
BUT in the end, the market is always right... Keep that in mind. It doesn't know what we think it will do.
Still I reccommend you to wait till it is fully broken! Then enter your positions. If you are conservative, wait for the pullback after the breakout. If you are speculative, I recommend you to place a tight SL (Stop Loss), in order to cut losses early (if it breaks out, it will do so without going back up too far...)
-EMA 200 tells us to sell
-Two month downtrend tells us to sell
-Doubletop formation tells us to sell
-Trend is our friend
BUT in the end, the market is always right... Keep that in mind. It doesn't know what we think it will do.
Note
We are on a good way to the first target. Hold on to this oneTrade closed manually
Well, we reached target number one, and right now I am saving these few profits. Keep this one on your watchlist, as I believe the price will bounce off the resistance.Note
Its a bit bouncy right now, but as long as the purple support holds, we are doing well. Better would be if the price could break the blue resistances one after the other of course ;-)
Note
Profits profits profitsNote
You know that song from Alicia Keys... Falling... ?! Good profits. Very good.
Note
so we have had a correction, but I think we can enlarge our position.
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