BLNK - Blink making a bounce
Updated
BLNK is set up for a bounce off of it's daily support line. Next areas of resistance are the kijun (red line) and the daily resistance trendline.
On smaller timeframes, it looks like BLNK could pull back to the ~9.39 area. So I will set a limit order there and wait for a bounce.
Another strategy could be scaling or ladder buys here. Always plan your own position size.
This trade setup offers 5.21% downside, and 10.52% upside. For a R/R ratio of 2.02. Note that these numbers are based on an entry at 9.41. So buying in higher will change those variables slightly.
On smaller timeframes, it looks like BLNK could pull back to the ~9.39 area. So I will set a limit order there and wait for a bounce.
Another strategy could be scaling or ladder buys here. Always plan your own position size.
This trade setup offers 5.21% downside, and 10.52% upside. For a R/R ratio of 2.02. Note that these numbers are based on an entry at 9.41. So buying in higher will change those variables slightly.
Note
Order filled at 9.41. Setting alerts at stop and targets now. Will exit when the price hits either-or.Note
Took profit at about 5.5% percent, but it ran to 10%. I took profit a bit early on the morning strength, could have got more. Trade closing out here.
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