Bearish potential detected for IRE
Entry conditions:
(i) lower share price for
IRE along with swing up of the DMI indicators and swing down of the RSI indicator, and
(ii) observation of market reaction at the support level at $9.03.
Stop loss for the trade would be:
(i) above the resistance level from the open of 9th September (i.e.: above $9.36), or
(ii) above the resistance level from the open of 21st August (i.e.: above $9.65), depending on risk tolerance.
(i) lower share price for
IRE along with swing up of the DMI indicators and swing down of the RSI indicator, and(ii) observation of market reaction at the support level at $9.03.
Stop loss for the trade would be:
(i) above the resistance level from the open of 9th September (i.e.: above $9.36), or
(ii) above the resistance level from the open of 21st August (i.e.: above $9.65), depending on risk tolerance.
Order cancelled
UPDATE (week ending 14-Feb): Trade abandoned since observation of market reaction at the support level of $9.03 showed that the RSI swung upwards (rather than downwards) when the share price tested the support level shown in the chart above. Since the share price ascended above the resistance level of $9.36, there's no point in tracking this potential trade any further - remove from watchlist.
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Disclaimer
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Detailed commentary/updates about trades (stocks, crypto & bonds) available:
youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
t.me/ASXTradersUnited
Like/join/subscribe for the latest!
...
youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
t.me/ASXTradersUnited
Like/join/subscribe for the latest!
...
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.