Time for ARMADA To Enter Into Markup Phase?

Sep 11, 2019

5210

• Supply has been exhausted.
  
• Potentially in phase D sign of strength (SOS) rally.
  
• A breakout above 0.285 followed by a backup action could provide a good entry.
  
• The last reaction has supply absorption characteristics.
  
• The cause built from Dec 2018 till Sep 2019 could make ARMADA a good long term campaign.
  
• Pay attention if it turns out to be an up thrust rather than a breakout with a stop below 0.24.
  

Sep 20, 2019

Trade active

Huge supply emerge today, possible correction as a back up action for the whole accumulation structure.

Pay attention to 0.3-0.315 should the back up action come.

Oct 3, 2019

Note

Scaled in at 0.31 earlier today. Potential Change of Character (CHoCH) for the trend initiated since 30 Aug 2019.

Oct 15, 2019

Note

- A strong and healthy run up after the reaction to 0.3-0.315.
- More upside to be expected until emergence of supply.
- A potential target using point and figure chart: 0.49-0.53

Oct 22, 2019

Trade closed manually

- Change of character bar has shown up today with huge supply in sync with the results.
- This should stop the up trend for now.
- Profit protection stop below 0.46 will get triggered today.
- End of day traders might consider to wait for a secondary test to exit on the way up.