Long
LUNA
BULL:
-Very strong upside move on a lower TF. Pullback expected to be brief.
-Higher lows forming
-On a higher TF it is still a bull trend, so probably better slightly more probability, that bigger trend is resuming?
-Healthy RSI
BEAR:
- Even though it is a bull trend and broad bull channel, there is a strong resistance from the previous fair value channel lower line.
-Previous fair value channel lower boundary coincides with present bull channel upper line to form strong resistance.
ERRORS:
Stop/loss too tight, should beat least at the level of the last HL.
Target is quite steep. Not unrealistic, but the position should be managed on the go.
-Very strong upside move on a lower TF. Pullback expected to be brief.
-Higher lows forming
-On a higher TF it is still a bull trend, so probably better slightly more probability, that bigger trend is resuming?
-Healthy RSI
BEAR:
- Even though it is a bull trend and broad bull channel, there is a strong resistance from the previous fair value channel lower line.
-Previous fair value channel lower boundary coincides with present bull channel upper line to form strong resistance.
ERRORS:
Stop/loss too tight, should beat least at the level of the last HL.
Target is quite steep. Not unrealistic, but the position should be managed on the go.
Note
Closed the trade at around 14.8 as strong resistance. RR 1:1. Will reevaluate if resistance will be broken.
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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.