ENVX Strategy for next week
We can see that price has surged due to positive news. headed towards a weekly sell side fair value gap, with a buy side faire value gap just on the extrimity of the red rectangle.
So we swept all the stop buy orders and now potentially heading for the down side.
We have also a weekly/daily order block that will serve as support.
If you see the chart, on May 2nd we had good news, the price gapped up and came back to a daily order block before moving forward.
How to trade :
if price goes again into the red area on the daily tameframe, and closes again below it. we can short this, with a TP at the OB dashed line. if not, we can wait for the price to fall back to the OB dashed line, and bounce off of it before going long.
So we swept all the stop buy orders and now potentially heading for the down side.
We have also a weekly/daily order block that will serve as support.
If you see the chart, on May 2nd we had good news, the price gapped up and came back to a daily order block before moving forward.
How to trade :
if price goes again into the red area on the daily tameframe, and closes again below it. we can short this, with a TP at the OB dashed line. if not, we can wait for the price to fall back to the OB dashed line, and bounce off of it before going long.
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