Saudiarabianstocks
AL RAJHI BANK: And the show goes on The 15th of February , TADAWUL:1120 has broken above a key level (153.2) with huge bullish momentum ,
which triggered a sudden spike to around the 170 .
After the quick spike ,price pulled back down to the 150.5-155.5 area which is an ideal buy zone with strong demand . Actually price is very likely to go up to the 179-180.5 area ,with the possibility to break above the 179-180.5 area and continue to the 195-200 area .
For position management it is recommended to apply Jesse Livermore's method to this trade :
Open 2 positions with the same Stop set in the red area .The first position's target is set at the 1st target area .The second position's target is set at the 2nd target area .When the first position reaches the 1st target area and closes , it is recommended to move the stop loss to the entry price for the second position targeting the 2nd target area .
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All Requests , Suggestions and Remarks are Welcomed .
(1020) ALJAZIRA BANK Promising TADAWUL:1020 has just entered a decisive area (green area) .
I recommend to wait for a break of that area , that would be a high probability buy signal targeting the 1st target area .
There is a good potential to reach the second target area too if we do close above the 1st target area .
Right now the bullish momentum is slowing down a little so it is possible price returns to around the (22.8) level before breaking above the green area .
If price fails to break above the green area , then a return to the black area would be possible , and would represent a potential buy area.
