The idea is to trade the bullish divergence and the bounce of the 200d EMA/uptrend line, which last 4 times indicated the medium term trend change. Alongside with the oversold RSI and STCH readings, it can potentially be quite a good trade with a pretty high RR ratio. Targeting the previously established all-time high and the SL below the recent low.
The long-term uptrend is still intact, thus expect US indices to reach new highs by the end of this year.
The long-term uptrend is still intact, thus expect US indices to reach new highs by the end of this year.
Trade closed: stop reached
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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.