Chinese ETF Possible HUGE Move!Watch NASDAQ:BIDU NYSE:TME AMEX:CWEB NYSE:BABA NASDAQ:NTES NASDAQ:PDD . Most are breaking out
Scoop up some strong ones!!
Reasoning
Whole Industry is moving!
Divergence between Composite and RSI on 4D chart
Consolidation seems done
Correction is not overextended
Multiple Bullish Days
Always try to use 2 timeframes
My Would Be Trade Plan
- Risk about 1.5ATR and aim to ride up to 4.5ATR (1:3)
- Raise stop once Trade moves 2ATR in your direction
- Add on new highs after a pullback. (Then raise stop to keep original risk and also do not modify the target price)
Main Sources of My Knowledge
Mark Minervini
Constance Brown
William O'neil
Speakers on Trader Lion Youtube
Adam Khoo
My Indicators
14 Period RSI.
9SMA and 45EMA Moving Averages added
Composite by Constance Brown
This is for catching failures in the RSI.
The RSI is a bounded indicator so sometimes fails to catch divergences. This indicator helps show that
Composite Settings
Author : Constance Brown (Connie Brown)
RSI Length : 14
RSI Momentum Length : 9
SMA Length : 3
Fast Simple Moving Average : 13
Slow Exponential Moving Average : 33