ENTRY: 1.445
SL: 1.59
TP: 1.36
- ADX>25
- Daily RS -ve
- Daily FFI -ve
- Weekly RS -ve
- Weekly FFI -ve
- Moving averages are aligned.
- Stoch RSI near 70.
- Breakdown on 10 Jun 2022 and moved down to form a range.
- Entry based on today breakdown from range and >3% rebound off 10EMA with volume .
Setup pretty much speaks for itself but the trade idea is from a technical standing- price has come back into an area of value (Trendline Support) and we have an entry signal from today's daily close printing a bullish engulfing candle, for me this is a valid place to go long at the next session open.
This setup provides us with a 3:1 risk reward ratio which...
ENTRY: 2.98
TP1: 3.10 (ATH)
TP2: 3.32
SL: 2.70
- ADX>25
- RSI>70
- FFI and RS +ve
- MACD +ve and 2 days green
- MAs are aligned
- Breakup resistance and up-trendline with good volume
Volume indicators are a bit weak for my liking, but it has been having a good run (up almost 100% over 6 months) and if it is up Monday it could be worth a closer watch.
Australian Finance Group Limited (AFG) is a mortgage broking company. The Company's principal activities are mortgage origination and management of home loans and commercial loans, and...
