MLX is currently forming inside bars on the Weekly chart which will break in the coming days. Previously MLX inside bars has broken bullish and have given back some nice gains. The potential for a BULL break is higher as MLX is currently in strong uptrend and is currently on a previous support.
BULLISH INDICATORS
Weekly
Inside Bars in an uptrend (inside bars broke Bullish twice in the past)
Declining BEAR Volume on the Weekly (sign bears are running out of selling steam)
Currently defending Uptrend line and using as support .
Daily
MACD Crossed Bullish
RSI Forming higher low (even when price has dropped lower) IMAGE BELOW
4 hour
MACD Crossed Bullish
BUY = .85 (IF LUCKY)
STOP = .75 10% LOSS
TARGET 1 = .94
TARGET 2 = .985
TARGET 3 = 1.160
Il play this with travelling stop loss if we break Bullish.
DAILY RSI (BULLISH)
BULLISH INDICATORS
Weekly
Inside Bars in an uptrend (inside bars broke Bullish twice in the past)
Declining BEAR Volume on the Weekly (sign bears are running out of selling steam)
Currently defending Uptrend line and using as support .
Daily
MACD Crossed Bullish
RSI Forming higher low (even when price has dropped lower) IMAGE BELOW
4 hour
MACD Crossed Bullish
BUY = .85 (IF LUCKY)
STOP = .75 10% LOSS
TARGET 1 = .94
TARGET 2 = .985
TARGET 3 = 1.160
Il play this with travelling stop loss if we break Bullish.
DAILY RSI (BULLISH)
Trade active
Bear break from the inside bars pattern.. Stop not reached yet trading still active. But Clear BEAR Break on this one..Note
Possible rebound at .74 cent next support.
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Related publications
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.