TSM - Minor Low Buy
TSM is in a strong bullish trend and formed a bullflag pullback after reaching L1-L2 target. Prices appeared to try a breakdown through channel support and were quickly bought.
Volume resistance lurks overhead through 99.20, but a breakout would lead to room to run.
I'm looking at this trade from 2 sides.
1. Conservative - wait for another minor low with a less volatile candle at the bottom of the flag or L1+L2 support. Buy on the minor low
2. Aggressive - Buy on any minor low in the channel/breakout of channel.
We will see what develops.
Volume resistance lurks overhead through 99.20, but a breakout would lead to room to run.
I'm looking at this trade from 2 sides.
1. Conservative - wait for another minor low with a less volatile candle at the bottom of the flag or L1+L2 support. Buy on the minor low
2. Aggressive - Buy on any minor low in the channel/breakout of channel.
We will see what develops.
Followed through to the upside. I could have entered on the bull flag breakout around $99.00, but missed due to work timing.