ALKYL AMINES CHART STUDY
Hello traders!
Key points: Weekly chart study
🎯The Falling Wedge pattern is complete and the price is ready to move up
🎯It appears that a double bottom has formed and the stock has made a lower low and now the price is ready to move higher.
🎯The price seems to be getting support on the weekly chart.
🎯A double bullish divergence has formed between the MACD oscillator and the volume indicator.
Major Level:
Support - 2146.10
Resistance – 2797.70
Entrance Area:
The optimal entry offers the greatest reward-to-risk ratio while the optimal entry is an area for reversal signals.
Optimum Entry nearby – 2300
Stop loss - weekly candle close below 2146.10
Target 1st - 2797.70
Target 2nd - 4749
Risk:
As traders, it is your job to minimize risk and only choose trade structures that offer high probability and a great reward-to-risk ratio.
If you are uncomfortable with defined exit levels, experiment with support levels to help set solid exit rules to protect your capital.
If the weekly candle closes below price level 2146.10 – This suggests that the structure is not in our favor and it would be wise to reduce risk or close the trade until a solid signal gives us reason to re-enter.
Remember, this analysis is only a snapshot, and other factors need to be considered before making any investment decisions.
Hello traders!
Key points: Weekly chart study
🎯The Falling Wedge pattern is complete and the price is ready to move up
🎯It appears that a double bottom has formed and the stock has made a lower low and now the price is ready to move higher.
🎯The price seems to be getting support on the weekly chart.
🎯A double bullish divergence has formed between the MACD oscillator and the volume indicator.
Major Level:
Support - 2146.10
Resistance – 2797.70
Entrance Area:
The optimal entry offers the greatest reward-to-risk ratio while the optimal entry is an area for reversal signals.
Optimum Entry nearby – 2300
Stop loss - weekly candle close below 2146.10
Target 1st - 2797.70
Target 2nd - 4749
Risk:
As traders, it is your job to minimize risk and only choose trade structures that offer high probability and a great reward-to-risk ratio.
If you are uncomfortable with defined exit levels, experiment with support levels to help set solid exit rules to protect your capital.
If the weekly candle closes below price level 2146.10 – This suggests that the structure is not in our favor and it would be wise to reduce risk or close the trade until a solid signal gives us reason to re-enter.
Remember, this analysis is only a snapshot, and other factors need to be considered before making any investment decisions.