WCH | 2 Buy zones and 1 long idea | Solutions and matter
General
WCH is currently in a no buy area for me as price approaching the top of the range with a big resistance zone. (red rectangle + Level 2).
I marked 2 buy zones where i would buy equally stocks for long term hold - therefor no SL (Stop- Loss).
First buy zone is based on the 50% of the range and a big s/r level.
Major buy zone is at the bottom of the range with 2 big support levels.
The 1 long idea (blue arrow) is another scenario under which i would buy.
Target: Fib extension in confluence with the % of the full range - ETL1
Requirements: Price breaks above the resistance area (red rectangle), generates swing and enter on break of that swing.
Good luck
Disclaimer:
- This information does not constitute as financial advice and is only for entertainment purposes. I am not your financial advisor.
- You trade entirely at your own risk
- Make your own research
- Finance and trading is evil, capitalism is bad, duh
WCH is currently in a no buy area for me as price approaching the top of the range with a big resistance zone. (red rectangle + Level 2).
I marked 2 buy zones where i would buy equally stocks for long term hold - therefor no SL (Stop- Loss).
First buy zone is based on the 50% of the range and a big s/r level.
Major buy zone is at the bottom of the range with 2 big support levels.
The 1 long idea (blue arrow) is another scenario under which i would buy.
Target: Fib extension in confluence with the % of the full range - ETL1
Requirements: Price breaks above the resistance area (red rectangle), generates swing and enter on break of that swing.
Good luck
Disclaimer:
- This information does not constitute as financial advice and is only for entertainment purposes. I am not your financial advisor.
- You trade entirely at your own risk
- Make your own research
- Finance and trading is evil, capitalism is bad, duh
Comment:
Resistance zone (Level 2) acted and pushed price down
Trade active:
First buy order was filled
Comment:
Sell order placed below Level 2 (red rectangle)
Trade closed: target reached:
Closing my Wacker position here. +27% since opening. Nice run of Wacker specially in the last weeks. Will buy again if price should fall back to one of the marked buy zones.