Position trade idea based on multiple Weekly chart indications.
1. Price break and close above 100 week moving average.
2. Double bottom formed from the last two weeks.
3. Engulfing candle for the week.
4. Upward sloping 100 Week moving average.
Im keeping a conservative position size which will allow me to keep a wide stop loss point ensuring I have the durability in the position to endure volatility in the weeks or months it may take to reach my target which is a test of the 200 Week moving average.
1. Price break and close above 100 week moving average.
2. Double bottom formed from the last two weeks.
3. Engulfing candle for the week.
4. Upward sloping 100 Week moving average.
Im keeping a conservative position size which will allow me to keep a wide stop loss point ensuring I have the durability in the position to endure volatility in the weeks or months it may take to reach my target which is a test of the 200 Week moving average.