Buy $ | Sell $ | Sell Short $ | Buy Back $ | Stop Loss $ | Profit / Losses | Duration |
1.40 |
|
|
| 1.26 |
|
|
Reason for Buy / Sell / Short / Cover:
- Monthly chart shows that price seems to stable down at $1.40.
- Monthly chart seems to display a cup with handle pattern.
- Intraday chart also indicating that consolidation is been built at $1.40.
Lesson Learnt:
- I am taking the proactive approach where I am not waiting for the price to come up from the handle first. This can be lethal.
- High volume at the cup is quite encouraging.
- Volume has been low and getting lower at the downturn of the handle side.
- Daily chart shows that the price of handle has dropped back exactly 61.8% which is normally the price range where buyers come back in to scoop up bargains.
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