The price penetrated above a declining upper trendline of pennant pattern and closed above 200-day EMA, supported by volume higher than average.
The bullishness is also supported by rising combined 20&50-day EMA as well as above kumo cloud. The momentum indicator is still rising and yet to reach overbought area. Based on the green kumo cloud, the future outlook of bullish will be more strengthened.
EP: 0.47
Next R/ TP:
• 0.485 (61.6% FE)
• 0.515 (100% FE)
• 0.545 (flag target)
Support:
• 0.455
• 0.445 (rising lower trendline of pennant pattern)
Risk and Reward – 0.015: 0.015 or 1:1
Note: This trading idea is for education purpose only and not to be construed as a buy call. The mantra of TAYOR and caveat emptor shall apply.
The bullishness is also supported by rising combined 20&50-day EMA as well as above kumo cloud. The momentum indicator is still rising and yet to reach overbought area. Based on the green kumo cloud, the future outlook of bullish will be more strengthened.
EP: 0.47
Next R/ TP:
• 0.485 (61.6% FE)
• 0.515 (100% FE)
• 0.545 (flag target)
Support:
• 0.455
• 0.445 (rising lower trendline of pennant pattern)
Risk and Reward – 0.015: 0.015 or 1:1
Note: This trading idea is for education purpose only and not to be construed as a buy call. The mantra of TAYOR and caveat emptor shall apply.