inakocibelli
Junior member
- Messages
- 16
- Likes
- 0
Entering long in this level is a good risk reward setup because the downside came in an exhaustive mode thus higher recoveries can be expected even though there is an important resistance level established in the first week of April.
That doji on the downtrend suggested hesitation, however SMA 50 served as support and trend reversed.
In addition, RSI is indicating we are entering into bullish sentiment. One obstacle though is the resistance imposed by SMA 20.
In the event that SMA 20 is breached, our target will be easily hit.
That doji on the downtrend suggested hesitation, however SMA 50 served as support and trend reversed.
In addition, RSI is indicating we are entering into bullish sentiment. One obstacle though is the resistance imposed by SMA 20.
In the event that SMA 20 is breached, our target will be easily hit.
