Momentum was weak since mid 2016. Recent strong sell-out after rising to the previous support line at 42.00.
Even though there is a strong resistence line at about 39.20, a break would provide hugh space for a drop.
The entry is relatively aggressive, but a targetable chance-risk-ratio of about 2 is for the first target is quite good and will likely be hit even if the suppport line will hold. If so, the overall trade (if 50:50 in size) will pay off a little profit.
Second target provides a CRR of over 8.
*** As always, if you trade with real money make your own analysis, as the provided analysis is no trade recommendation and for theroetical learning only. So do not trade any of my trade-analysis with real money. ***
Even though there is a strong resistence line at about 39.20, a break would provide hugh space for a drop.
The entry is relatively aggressive, but a targetable chance-risk-ratio of about 2 is for the first target is quite good and will likely be hit even if the suppport line will hold. If so, the overall trade (if 50:50 in size) will pay off a little profit.
Second target provides a CRR of over 8.
*** As always, if you trade with real money make your own analysis, as the provided analysis is no trade recommendation and for theroetical learning only. So do not trade any of my trade-analysis with real money. ***
Trade closed: target reached
TP1 reached.Trade closed: target reached
TP2 reached.
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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.