Ideally should be done right before trading day close but here we go.
USB
is in general uptrend, so long position is sought. Initial long at 54.60 pullback stopped out at 53.50.
Second entry with half position size at 52.75 pullback level, with subsequent long at 50 if pullback reaches here. Entry at 52.75 and 50 with stop at 49 was the initial plan. Expected turnaround between 50 and 52.75.
However, with moving average support/bounce, bullish divergence and higher low formation, there is a good chance that USB has finally found its bottom (~51 level). Turnaround confirmation here.
Currently long at 52.75, but adding remaining half of position here at 51.65 with stop at 49.50.
Also add another position at breakout of 54.80 with strong stoploss to follow after. Use stoploss to follow profits if profits develop.
However, short at breakdown of 49 level
USB
is in general uptrend, so long position is sought. Initial long at 54.60 pullback stopped out at 53.50. Second entry with half position size at 52.75 pullback level, with subsequent long at 50 if pullback reaches here. Entry at 52.75 and 50 with stop at 49 was the initial plan. Expected turnaround between 50 and 52.75.
However, with moving average support/bounce, bullish divergence and higher low formation, there is a good chance that USB has finally found its bottom (~51 level). Turnaround confirmation here.
Currently long at 52.75, but adding remaining half of position here at 51.65 with stop at 49.50.
Also add another position at breakout of 54.80 with strong stoploss to follow after. Use stoploss to follow profits if profits develop.
However, short at breakdown of 49 level
Trade active:
Reversal moving in our favor right now, still watching. Breakout of 52.75 level will be amazing but still waiting for trade to workout
