LULU Long on Ascending Channel
Updated
- Selling volume is decreasing on average as the price declines downwards
- Hammer with long tail shows bulls resolve on pushing prices back up when it is near the resistance and seller is losing control
Notice the price at around 190.13 on 30 min chart:
- Significantly high volume on 30 min chart green candle when it is near the intra day resistance.
- Force index is higher on the highs
- Hammer with long tail shows bulls resolve on pushing prices back up when it is near the resistance and seller is losing control
Notice the price at around 190.13 on 30 min chart:
- Significantly high volume on 30 min chart green candle when it is near the intra day resistance.
- Force index is higher on the highs
Note
Big green candle with huge volume today. High probability to be the key reversal candle to start the rally
Note
Exited with trailing stop lost at 201.035 (just slightly above 1R profit)Lesson learnt: Exit early when there is a MACD and Force index bearish divergance near the target.
Could had gain 1.8R instead =)
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