TRIPLE CONFLUENCE - GREAT POSITIONAL AND SWING SETUP
Updated
Hi Friends and Fellow Traders,
MUST WATCH stock.
TRIPLE CONFLUENCE OR A COINCIDENCE ???
DEFINITE LONG ON CLOSING BASIS ABOVE 214. THIS WOULD CONFIRM PRICE ACTION AND SUBSTANTIATE THE REVERSAL OF THE SHORT TERM DOWNTREND
LET ME KNOW IF YOU HAVE TRADED THIS IDEA IN COMMENTS
MUST WATCH stock.
- Price Trading at 61.8% Fib Retracement
- Price at long term resistance turned support zone (daily and weekly timeframe)
- Price right at the UP trendline support
TRIPLE CONFLUENCE OR A COINCIDENCE ???
DEFINITE LONG ON CLOSING BASIS ABOVE 214. THIS WOULD CONFIRM PRICE ACTION AND SUBSTANTIATE THE REVERSAL OF THE SHORT TERM DOWNTREND
LET ME KNOW IF YOU HAVE TRADED THIS IDEA IN COMMENTS
Trade active
Stock Moving on Expected Lines. Anticipate a retest of 212-214 range in Hourly Timeframe before the Momentum continue or a Retracement to the TrendlineTrade active
Retracement ? Breakout and Retest of Support. If it holds here , further upward momentum would be seenTrade closed: target reached
DONE
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