- $MOVR current price is sitting on the daily support zone ($55-56$)
- Trend of RSI is on upward manner and also is approaching the trendline support zone
- For daily MACD, can see the daily histogram is getting smaller even though price is hovering around the same zone (Based on Jesse Livermore, this shows bearish trend is getting weaker)
Potential play that I will look into :
- Bought order @ $USD55 and make sell order at the $75-$77 region
- Sell order is inserted based on the confluence of Fibonacci extension (61.80%) and also the resistance zone
- SL set @ $51-$52 region (5% risk which is a must for all my trade)
- Risk : Reward ratio is 3:1
Disclaimer : For tutorial purposed only. Not a buy call.
- Trend of RSI is on upward manner and also is approaching the trendline support zone
- For daily MACD, can see the daily histogram is getting smaller even though price is hovering around the same zone (Based on Jesse Livermore, this shows bearish trend is getting weaker)
Potential play that I will look into :
- Bought order @ $USD55 and make sell order at the $75-$77 region
- Sell order is inserted based on the confluence of Fibonacci extension (61.80%) and also the resistance zone
- SL set @ $51-$52 region (5% risk which is a must for all my trade)
- Risk : Reward ratio is 3:1
Disclaimer : For tutorial purposed only. Not a buy call.