This is a favorable setup for a long position on the daily chart.
- Clear structure of higher highs and higher lows since march drop.
- rsi not overbought and macd cross on daily possibly tomorrow
- Currently possible move up from 0.618 fib. if open on monday is a bullish candle this is a good entry. wait for confirmation
- first target is just under 100$. would take profit as high as investment + some extra and set stop loss to barely above entry. let the rest run and see if this can even go higher as weekly macd would suggest.
- Note: Price was last rejected at 200MA and this could act again as resistance.
- Clear structure of higher highs and higher lows since march drop.
- rsi not overbought and macd cross on daily possibly tomorrow
- Currently possible move up from 0.618 fib. if open on monday is a bullish candle this is a good entry. wait for confirmation
- first target is just under 100$. would take profit as high as investment + some extra and set stop loss to barely above entry. let the rest run and see if this can even go higher as weekly macd would suggest.
- Note: Price was last rejected at 200MA and this could act again as resistance.