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
Considering it has had a 14% run up since the 10th of December, it may not break. Although, this is why you put the buy order above the resistance, if it doesn't break then no harm done.
R Multiplier is a 1.79 which means a 38% win rate is needed to be profitable.
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
Considering it has had a 14% run up since the 10th of December, it may not break. Although, this is why you put the buy order above the resistance, if it doesn't break then no harm done.
R Multiplier is a 1.79 which means a 38% win rate is needed to be profitable.