APA trade ideas
APA Short after breaking out of its previous lowEntry: 9.63
Stop loss: 9.87
Shorted the counter after it broke down its previous low with high volume today.
The 3 SMAs are trending orderly downwards.
APA.ASX_ShortENTRY: 9.65
TP1: 9.24
TP2: 8.34
SL: 10.02
- RSI<35
- ADX>25
- FFI and RSI -ve
- Good volume breakdown on 13 Jan 2021 and retraced back with lower volume
- Entered today
APA intraday opportunityPositives:
1. There is very strong support line (2h-4h)
2. RSI positive
3. MACD positive
4. Price just crossed the fib ret level and ready to repeat uptrend movement.
Good chance to take quick profits.
APA....buy if breakinguptrend....
enter to buy position after good closing above tl on daily time frame
