Tranchess (CHESS)On the above 1-day chart price action corrected 95% since last September. A number of reasons now exist to be long, including:
1) The ‘incredible buy’ signal.
2) Price action and RSI resistance breakout.
3) Price action price prints a higher low on the golden ratio. Fantastic.
4) Volume. Regardless of the price action volume accumulation continues.
5) On ‘what if’ list and already meets all conditions.
Is it possible for price action to fall further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: 1 to 3 months
Return: no idea
3-day chart