Hi folks,
Sandbox was flying high lately. There has occurred a ascending triangle.
The uptrend line has been tested many times before and has stood the test. We seeing it being tested now!
This testing of the uptrend is also forming a higher low in a bullish market.
As the RSI has declined lately It has formed a possible bottom. And momentum is searching for direction.
A beautiful low risk opportunity is here. I will use a tight stop loss at 1st support line.
So I risk $0.6350 (actual price) - $0.6100 (stop loss) = $0.0250
To win
1st resistance line $0.6350 - $0.7550 = $0.1200
$0.0250 x 5 = $1.1200 (plus minus) That is a nice risk/reward.
I put my bets!!
Sandbox was flying high lately. There has occurred a ascending triangle.
The uptrend line has been tested many times before and has stood the test. We seeing it being tested now!
This testing of the uptrend is also forming a higher low in a bullish market.
As the RSI has declined lately It has formed a possible bottom. And momentum is searching for direction.
A beautiful low risk opportunity is here. I will use a tight stop loss at 1st support line.
So I risk $0.6350 (actual price) - $0.6100 (stop loss) = $0.0250
To win
1st resistance line $0.6350 - $0.7550 = $0.1200
$0.0250 x 5 = $1.1200 (plus minus) That is a nice risk/reward.
I put my bets!!