Hi guys, just a quick update as I am at work at the moment.
For sellers, it's very nice profits. If you have taken some profits as per my advice, you can now move your stop loss to $6950 or $7200 and leave the remaining positions open until mid $5k.
For buyers, it will be a risky buy as the short term trend is still downwards (mentioned in my last post). There is a possible bullish bat pattern that may work, with confluence of the crucial support that I mentioned previously. Although it's good risk reward, the probability of it stopped out is more than likely. (Remember, trend is your friend). To be safer, wait for a doji followed by a bullish candle (or any other bullish candle pattern) to enter.
Taiwan Bear
Last analysis:
For sellers, it's very nice profits. If you have taken some profits as per my advice, you can now move your stop loss to $6950 or $7200 and leave the remaining positions open until mid $5k.
For buyers, it will be a risky buy as the short term trend is still downwards (mentioned in my last post). There is a possible bullish bat pattern that may work, with confluence of the crucial support that I mentioned previously. Although it's good risk reward, the probability of it stopped out is more than likely. (Remember, trend is your friend). To be safer, wait for a doji followed by a bullish candle (or any other bullish candle pattern) to enter.
Taiwan Bear
Last analysis:
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New update:
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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.