In the recent pullback price has dropped to the Value Area Low for the period from 2013 onwards, and right to the bottom of the profile where a low volume node stopped the drop since Feb 16. It is also the location of the yearly S2 pivot.
Buying now represents great value in relation to the last 6 years prices, and for long term investors in particular. Placement of a stop below the recent low allows for easy risk management. Alternatively, wait for price to retest the $180 area and buy with a tight stop, with the obvious caveat that you may miss the trade if it doesn't retest.
Buying now represents great value in relation to the last 6 years prices, and for long term investors in particular. Placement of a stop below the recent low allows for easy risk management. Alternatively, wait for price to retest the $180 area and buy with a tight stop, with the obvious caveat that you may miss the trade if it doesn't retest.
