XERS 2/7/2020
Updated
Analysis: *note. I entered this trade on 2/4 @ 6.58. Analysis done for that date.
Daily chart- After long downtrend, price in sideways market between 1.55-5.89 for 316 days. Price has made a series of higher lows into resistance creating a trendline support level. This shows bull strength from the buyers willingness to buy at higher prices. Since 12/15, price supported by 200ma which was followed by the crossing of 50ma creating a Golden cross. This further signaling the strength of the bulls. Shortly after this, price broke out of resistance. Will look into 1hr chart for entry.
1HR Chart- After break out on 2/3, price pulled back to resistance bouncing off it and turning into support. Price also bounces and finds support from 10ma showing very strong bull strength. Price broke top of breakout price after pull back. This is my entry signal. Price was over-extended from 10ma, once price pulls back to 10ma, buy.
Entry: 6.58
Stop: 6.20
Initial Target: $12. Will also trail 10 MA on 1hr
Daily chart- After long downtrend, price in sideways market between 1.55-5.89 for 316 days. Price has made a series of higher lows into resistance creating a trendline support level. This shows bull strength from the buyers willingness to buy at higher prices. Since 12/15, price supported by 200ma which was followed by the crossing of 50ma creating a Golden cross. This further signaling the strength of the bulls. Shortly after this, price broke out of resistance. Will look into 1hr chart for entry.
1HR Chart- After break out on 2/3, price pulled back to resistance bouncing off it and turning into support. Price also bounces and finds support from 10ma showing very strong bull strength. Price broke top of breakout price after pull back. This is my entry signal. Price was over-extended from 10ma, once price pulls back to 10ma, buy.
Entry: 6.58
Stop: 6.20
Initial Target: $12. Will also trail 10 MA on 1hr
Trade closed: stop reached
Trailing stop of 10ma triggered on 2/9. Closed trade at 7.42 for 12.79% gain. Will look to re-enter tradeStopped: 7.42(+12.79%)
Trade active
Full pull back to resistance area @ 5.83. Engulfing candle on 1hr chart is my entryEntry: 6.06
Stop: 5.39
Trade closed: stop reached
Stopped: 5.39(-8.82)Price fell back in ascending wedge pattern. If i see reversal at trendline, i will look to enter again
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