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Long

PolyOne - Long - Swing Trade

By Channibal
Updated
  • Picked this up from the weekly scan ended the week with a NR3 and NR7 combo.
  • The weekly bar also ended with a hammer-like shape with a slight upper shadow.
  • The Fib on the Weekly shows the next resistance level at ~$30
  • Break-out Signal on -2w bar
  • Prices closed just above fast EMA on the weekly, with the slow EMA hovering around $29 (a bit lower than I would have hoped.)
  • Overall volume in 2016 has been higher than Q4-15, while prices appear to establishing a 'base' between $23 and $26 during 16'
  • Bull Flag on the Daily Chart with a NR7 + hammer-like bar on the last day, with support from the rising EMA that has just crossed-over late last week
  • Volume had been contracting throughout the week, until Friday
  • However, the Daily NR3+7 combo painted earlier this week did NOT immediately yielded anything!
  • Long entry above the bull flag pole with Target set just under $30
Trade active
Entered Long today.
Trade active
Moved Stop to BE.
Trade active
Moved Stop to 5ema.
Trade active
Moved Stop to today's Low; Ready to exit.
Trade closed: stop reached
Closed trade today; Stopped today; +2R
Daily ChartsFibonaccinr3nr7swingWeekly Charts
Channibal

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