ENTRY: 3.37 SL: 3.63 TP: 3.06-3.12 - ADX<25. Would like to be higher. - Daily RS -ve - Daily FFI -ve - Weekly RS -ve - Weekly FF +ve - Moving averages are aligned. - Entry based on today breakdown, >3% from 10EMA and rejection of downtrend line.
2 1/2 years to have formed this pattern. looking to breakout to the upside, after a minor pull back to trend support. Easy move here with 5-6% risk. Entry if you've already missed it will be somewhat difficult, either wait for pull back or slowly sizing in or either take the confrimation of handle top. potential 15-50% move depending on your TP targets and term...
Long trade opportunity as price is at a level with a confluence of supporting factors (Trend Line, Horizontal Support & 200MA) Indicators and recent price action suggesting a potential bottom being formed (details outline in the chart).
Technical confirmations: * Key reversal (KR) buy signal * RSI Divergence * Trend line respected * 61.8% Fibonacci retracement Target 6.58 Stop 5.54
This is a weekly timeframe trade setup - Looking for an entry signal at around 5.50 (in the form of a bullish candlestick pattern) as this is likely to be a strong support level, I will look to take profit on half my position at around 6.50 and then hold the rest of my position to see if it breaks even higher as this is a longer term trade setup. Stop loss is 1...
Lets see if Bega can breakout and successfully retest the crucial 5.50 resistance level and establish a long term uptrend to retest the all time high's, would be a nice ride to take. It has been outperforming the market this week in particular which suggests that their might be strength to this move despite a sell off in the market. Only my opinion
Buyers have broken upper trend line on a Bullish Wedge pattern
Recently broke through resistance, if it can break through this second short term resistance than it looks like it may gap up. There is also a hammer candle on support on the weekly and monthly which indicates seller exhaustion. Buy Price: $4.15 - Enough above the resistance to ensure that you aren't brought into the trade if its a fake out Stop Loss: $4.01...