Trading idea number C-006 | Compound could raise to 43/45 USD area.
The RSI is below 50. The MACD is above its signal line and is negative, price is below its 20- and 50-period moving averages. In addition, the pair is trading below its lower Bollinger band. All this shows a state of strong oversoldness following yesterday's price collapse that brought prices back to the support line of the lateralization channel from which we expect a rebound. To support our bullish thesis we also see a first bullish divergence
📈 Long Entry at 40.74
💰 Take Profit at 43.00
💸 Stop Loss at 39.85
The RSI is below 50. The MACD is above its signal line and is negative, price is below its 20- and 50-period moving averages. In addition, the pair is trading below its lower Bollinger band. All this shows a state of strong oversoldness following yesterday's price collapse that brought prices back to the support line of the lateralization channel from which we expect a rebound. To support our bullish thesis we also see a first bullish divergence
📈 Long Entry at 40.74
💰 Take Profit at 43.00
💸 Stop Loss at 39.85
Trade closed: stop reached:
-2.18%