monthly timeframe buy ideasolid setup for longs will continue to watch this trade for entry oppurtunity corrections.pullbacks etc
IFL trade ideas
IFL - Bullish Trade PlanIFL looks constructive and recently it has been consolidating at the Resistance level. As it has been in the range, we might see a minor swing low towards the upward sloping trendline around $3.90 - $4.00, which is also my Buy Zone. If it pulls back, it could be a very good buying opportunity for the next leg higher. I would wait for bullish price action confirmation to ride the swing. My target would be the next Resistance level of $5.40.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
IFL - Bullish Trade PlanIFL is looking good and has been printing higher highs which is a good sign. Currently it seems that it may pull back lower to print a higher low. I expect price to retrace lower towards my Buy Zone between $3.85 - $3.95, which is previous support and also trendline support. I will be taking a long position after bullish price action in the Buy Zone.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
IFL looks to be breaking downIFL looks to be breaking down as price drops out of channel. Hanging man candle followed by 2 very bullish candles which have taken the price below the 8EMA and testing the 20EMA. MACD crossover and RSI now turning bearish. Down on the 1hr chart the story is even worse with a double death cross of 8EMA under 20 & 100.
Target 1: 3.45
Target 2: 3.19
For educational purposes only
Do your own research
IFL - Bullish Trend ConfirmationBullish Confirmation Indications
1. IFL has broken out of the long downward trendline with High Volume
2. Price Action have been impulsive which indicates that Bulls are in control.
3. The price action is consolidating against the trendline.
4. IFL is looking good on the weekly and monthly charts.
I expect IFL to pull back to the Buy Zone between $3.52 - $3.25. I think it will be a good opportunity to buy with an 18% potential gain on the first trade and 24% potentially on the second.
Please note these are my own notes for future reference, by no means trading advise to anyone. Please do your own research before entering into any trade.
