This is an incredible long opportunity, the stock shows huge institutional interest, while also being hugely oversold, combined with the recent breakout. this is exactly what I have been waiting for, this has an outstanding risk to reward ratio.
Before the full confirmation for the breakout, we will see a big candelstick with big volume,
so it so important to trade with TP and SL,
we will keep watching the pair, and analyse it's movement, until we get the full confirmation if it doe's,
SL HIT Today but did not lose due to moving stop past entry point. Overall I feel like this is a winning trade, mentally due to sticking to all my rules and trading plan . I personally believe that defence is 10X more important than offence. I am still sticking to my analysis and will be looking for another entry.
price way below 50 ema. Price has been rejected from 6928 level a couple times with bullish jumps. Smaller time frames showing bullish momentum. Time to start buying to the weekly high. Stoch oversold.
Well, strong up trend has been continuing for some time met with some overbuying resulting some downtrend lately. This weeks inverted hammer candle shows a bullish reversal along with the 1.480 level of resistance shows bullish jumps with past price analysis shown with the green rectangle. Price has touched the 20 EMA (red) line and is just below the 50 EMA too (blue)