Bullish engulfing candle bounced off channel trend line followed by big gap up on strong volume. Looks like this one is heading to top of channel. Potential pull back before entry as RSI is heading into over bough territory and price is now outside bollinger bands. Targeting a 7-8% move. up to top of channel. Entry anywhere from 5.80-5.95.
Stop loss at 5.68 which would signal price will fill in the gap and trade is reversing.
Timeframe: 1-3 weeks
Please do your own research
For educational purposes only
Stop loss at 5.68 which would signal price will fill in the gap and trade is reversing.
Timeframe: 1-3 weeks
Please do your own research
For educational purposes only