Looking on the daily chart I can see a nice dubbel bottom. The 2 red arrows are pointing to the two specific candles I really like to see when the chart is making a dubble bottom. Also the rsi indicator has given a overbought signal on the first touch of this bottom. Price moved up pretty strong and for me this looks like a trend reversal. on the left side of the chart you can see a large sellers wick and friday the price has tested this area again. In the strong upwards move from the beginning of september price has broken this area pretty easy and now it looks like a strong support because of the rejection on this level. The candle from last friday will be my oppertunity to trade. I realy like this hanging man candle.
As always my entry wil be a little bit above de buyers wick and stoploss will be a little bit below the seller wick. my first take profit point is a erea to take a look at. It could go even higher to recent high or maybe price will create a new high but I think the upper green line is a strong resistance level
entry point = 132.116
stop loss = 131.237
first take profit = 134.373
As always my entry wil be a little bit above de buyers wick and stoploss will be a little bit below the seller wick. my first take profit point is a erea to take a look at. It could go even higher to recent high or maybe price will create a new high but I think the upper green line is a strong resistance level
entry point = 132.116
stop loss = 131.237
first take profit = 134.373