sideways movement points to leg up ( rsi,mfi +multi bar support)

18 ago

1-4 : sellers and buyers are equal in strength,
a sideways movement then ensues, an identification of this is very valuable,
as it allows us to have a a stop entry above the former support for 2.1

2.1 : support provided, it was tested and seemed to provide some resistance
if we are indeed moving sideways, we want to break this resistance and head
to 3

** a support line at the troughs from rsi and mfi from which we had the previous push up points to this being another potential move up at well. This is a not well known technique.

* over the past 2,500 bars, we have had price follow through to the next zone above 'breakout' 66% of the time, if price closes above a zone, this is great odds

* a stop order is then the logical next move

20 ago

Trade chiuso: stop raggiunto

I suppose in hindsight I had no logical reason to think that 4 was going to be a support.

I could say perhaps that the entry was not triggered, but I think it was, just by a tick or two, but it seems that the trade was triggered.