On 4AUG I diagrammed a possible trade set up with less-than-optimal Risk to Reward ratios. During trading on 5AUG, MU met some serious resistance that stopped all bullish progress on the 5-minute chart. This battle is making the already not-so-high first target of the trade set up seem more daunting. It may take MU some time to build up some more bullish support to break these resistances to break higher. If this support doesn't come in the next few days, we may see a pull back towards the SMA 50 on the daily chart.
This analyis is part of a trading challenge I am doing where I only indicate trades with the SMA 50
This analyis is part of a trading challenge I am doing where I only indicate trades with the SMA 50