As we can see, it has been in a prolonged downtrend since 2019 with the 20day ma acting as resistance for the 8 day ma. But alas, the 8day ma has reclaimed not only the 20day ma, but also the 200 day ma, and is now consolidating nicely.
this is apart from the bullish divergences and hidden bullish divergences previously which fuelled the 200ma reclaim.
The idea is a long so long as the 200ma holds. Stop loss should be a daily close below the MA to avoid stop hunting.
this is apart from the bullish divergences and hidden bullish divergences previously which fuelled the 200ma reclaim.
The idea is a long so long as the 200ma holds. Stop loss should be a daily close below the MA to avoid stop hunting.