Indicated by the 2 long tails created. Also the low 80 for the current trade is a golden cross between wma 50 and 100, so a short term technical buy.
But nevertheless keep a SL at 80 and hold till 94. The Risk to Reward is quite attractive with a downside at 4% and upside is at 16% making 1:3 R2R ratio quite favorable to us .
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SL hit taking a loss. Due to corona outbreak news in Italy, the market gapped down. This is a high risky trade, i am moving my SL to 72 and then purchasing few more to average it out. This trade is not for the fainted heart.
long term speaking, fundamentally, the price of varta is still over valued. I'm using EMA, so all EMA show a downward trend. depends on where you build your portoflio. I did a short term trading, bought after passing the trendline and sold around 85 after the kangaroo tail. I don't think it will come back that soon, I will not consider it until the gap is filled.
abiXMR
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@karl_ee, This was a short term buy, when i posted. I am just waiting to reenter at a good position. Looking at the current 75 mark I would, the current region would hold for sometime. As long as this panic sell continues we wont be seeing any drastic moves.