Ready for a long trade?

20 Okt

I've placed a BUY STOP order above the last trading day's high. The reasons :

• If the last high gets broken to the upside, I expect a short-term turnaround of the price movement.
  
• The simple moving averages should do a bullish crossover.
  
• the privce could rise until the last high zone between 3.00 and 3.38 USD. With this the chart could form a cup & handle formation [we need to re-eavaluate this].