Raymond showing a strong bullish momentum
Consider this post as educational.
Factors:
a) Falling wedge pattern near historical support lines.
b) Falling flag breakout pattern inside wedge.
c) 20 EMA line acting as Dynamic support at breakout for the next candle if its opening >= Previous close. Probable 20 EMA line upside closing break.
d) An End of a swing low with initial buying thrust.
Short Term Profit:
If opening is bullish:
Entry: 5 mins Time frame 1st candle high
Stop: 5 mins Time frame 1st candle low
Profit: min 2-5 RR
Long term Profit:
Entry: Previous day candle high
Stop: Previous day candle low
Profit: Volatility based trailing stop loss. 300+ target in max of one week.
Factors:
a) Falling wedge pattern near historical support lines.
b) Falling flag breakout pattern inside wedge.
c) 20 EMA line acting as Dynamic support at breakout for the next candle if its opening >= Previous close. Probable 20 EMA line upside closing break.
d) An End of a swing low with initial buying thrust.
Short Term Profit:
If opening is bullish:
Entry: 5 mins Time frame 1st candle high
Stop: 5 mins Time frame 1st candle low
Profit: min 2-5 RR
Long term Profit:
Entry: Previous day candle high
Stop: Previous day candle low
Profit: Volatility based trailing stop loss. 300+ target in max of one week.
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