Long
[BUY SIGNAL - 7:1 RISK/REWARD
Another pattern to be watched in its early formation, recent strong down trend just got breached with strength. We're in an oversold position, if the MACD line stays above zero and we watch a crossing also on the positive y-axis we might see a good and strong up movement.
Buying on a little over the high of the first candle body completely closed out of the pennant to confirm movement up would be the safest play.
Buying on a little over the high of the first candle body completely closed out of the pennant to confirm movement up would be the safest play.
Note
If the price starts stabilizing on a horizontal trend, I would definitely consider accumulating for a longer-time frame trade judging the very recent up trend formed as it grows stronger if the price stays stable and or slowly increases.
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.
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.