Friends,
Nice long, with some nice criteria as listed below.
1. We have price contained in a strong ascending channel
2. Price showed us a bullish engulfing signal smack bang on the 50EMA. Alongs this signal was not totally violated I was looking for longs out of the range.
3. The price did a rounded bottom type move, finally breaking yesterday the temporary resistance we've been seeing.
4. It's obvious to the naked eye that this will be a long continuation trade.
5. Price gapped with enthusiasm. Allowing us to start using tight stop losses.
6. On the buying day, there was virtually no downside selling. Have the bulls fully pushed aside the bears? We will soon see.
Good luck,
Regards
Tom
Nice long, with some nice criteria as listed below.
1. We have price contained in a strong ascending channel
2. Price showed us a bullish engulfing signal smack bang on the 50EMA. Alongs this signal was not totally violated I was looking for longs out of the range.
3. The price did a rounded bottom type move, finally breaking yesterday the temporary resistance we've been seeing.
4. It's obvious to the naked eye that this will be a long continuation trade.
5. Price gapped with enthusiasm. Allowing us to start using tight stop losses.
6. On the buying day, there was virtually no downside selling. Have the bulls fully pushed aside the bears? We will soon see.
Good luck,
Regards
Tom