POWW is trying to hold the $7.50 support which is a good sign but if it doesn't I think that it will present even better trading opportunity with very obvious entry and SL area. Keeping some cash on the side in case we go down to $6.50 zone.
Cup & Handle idea still valid with $14.00+ target should it break above $10.00.
Cup & Handle idea still valid with $14.00+ target should it break above $10.00.
Comment:
Daily candle is not the worst. Psychology of today's price movement resembles that of inverted hammer and could signal end of downtrend. A lot riding on overall market conditions but it's looking fine.
Trade active:
Looks like bottom is in.
Comment:
trying to hold right at support
it either bounces here or the idea is invalidated unfortunately
it either bounces here or the idea is invalidated unfortunately
Comment:
Seeing some reaction, good sign. Still long.