Cheap CATS for the Bullish Traders
Weekly Chart :
4 Years of Bullish Trend (Since 2016) Proved that The MUT (Major Up Trendline) is nothing but a Rock Solid Support.
The last Covid-19 Crisis found Support on the MUT as well.
1:
2:
As we zoom in the Weekly Pictures, we notice the Strong Bullish reaction on The MUT - Backed by Market optimism and bullish movments in the Major Indicies.
Daily Chart :
The fact that the Price have been pushed highly and strongly above 17.86 and found Support there, showing us the reability of that level - Which gives us the confidence to Set New Trades from that level!
On the Minor Level, note the break of the DMT (Down Minor Trendline) - A sign for the end of the Correction and the begining of a new Minor/Intermediate Rally,
The Trading Plan :
Buy When we recive a Bullish Minor confirmation for the Last green Reversal Candle, around 17.95 level.
Set the Stoploss on 14.43 and The first TP (Take Profit) Target on 29.77.
Possible Scenarios :
1. If the price will go too high on the coming monday it will get us out of the optimal Risk-Return Ratio - Do not take the trade on a Random price level!
2. If the Price will go lower from 17.95 -
a. The price will create new bottom below 17.95 and will find Buyers there who will take the price between the bottom and 17.95 -in that scenario we will split the TP for 2 : 17.95 - 20%, 29.77 - 80%.
b. The price will go down strongly below 17.95 and will continue towards the 12.88 level or the MUT - such scenario shows us change in the trading atmosphere, and therfore, we will need to create new anaylsis in order to initiate new trades from those levels.
Good Luck!
4 Years of Bullish Trend (Since 2016) Proved that The MUT (Major Up Trendline) is nothing but a Rock Solid Support.
The last Covid-19 Crisis found Support on the MUT as well.
1:
2:
As we zoom in the Weekly Pictures, we notice the Strong Bullish reaction on The MUT - Backed by Market optimism and bullish movments in the Major Indicies.
Daily Chart :
The fact that the Price have been pushed highly and strongly above 17.86 and found Support there, showing us the reability of that level - Which gives us the confidence to Set New Trades from that level!
On the Minor Level, note the break of the DMT (Down Minor Trendline) - A sign for the end of the Correction and the begining of a new Minor/Intermediate Rally,
The Trading Plan :
Buy When we recive a Bullish Minor confirmation for the Last green Reversal Candle, around 17.95 level.
Set the Stoploss on 14.43 and The first TP (Take Profit) Target on 29.77.
Possible Scenarios :
1. If the price will go too high on the coming monday it will get us out of the optimal Risk-Return Ratio - Do not take the trade on a Random price level!
2. If the Price will go lower from 17.95 -
a. The price will create new bottom below 17.95 and will find Buyers there who will take the price between the bottom and 17.95 -in that scenario we will split the TP for 2 : 17.95 - 20%, 29.77 - 80%.
b. The price will go down strongly below 17.95 and will continue towards the 12.88 level or the MUT - such scenario shows us change in the trading atmosphere, and therfore, we will need to create new anaylsis in order to initiate new trades from those levels.
Good Luck!
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