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Strategy: Inverted Head and Shoulder spotted
Bias: Bullish . Significant volume kicked in today and breakout the box consolidation zone at the price of 0.250, which is also the previous high since Novemeber 2019. This is the 2nd long green bar after the price hit its bottom at 0.210. If the momentum continue, the price shall break its immediate resistance 0.265 and challenge next resistance at 0.285 soon.
If we see from the chart pattern, a small inverted head and shoulder pattern was spotted. Hence, the price shall be in positive movement in the near term if momentum sustained.
R: 0.265, 0.285
S: 0.250, 0.255
If you find this idea helpful, do not hesitate to drop us a like and comment! Happy trading! :)
Strategy: Inverted Head and Shoulder spotted
Bias: Bullish . Significant volume kicked in today and breakout the box consolidation zone at the price of 0.250, which is also the previous high since Novemeber 2019. This is the 2nd long green bar after the price hit its bottom at 0.210. If the momentum continue, the price shall break its immediate resistance 0.265 and challenge next resistance at 0.285 soon.
If we see from the chart pattern, a small inverted head and shoulder pattern was spotted. Hence, the price shall be in positive movement in the near term if momentum sustained.
R: 0.265, 0.285
S: 0.250, 0.255
If you find this idea helpful, do not hesitate to drop us a like and comment! Happy trading! :)
Note
Support is RM0.250 and RM0.235 Thanks for following us :)
Trade closed: target reached
RM0.265 target reached in one day! Hit fibo 0.618 resistance RM0.275 accurately too. Congrats everyone who followed and profited! :)
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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.
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.