ASX:PPH
1W - has been in a strong down trend. Last week candle has a long lower shadow (wick) followed by the first strong reversal green candle (this week). Potentially oversold (RSI confirmed) due to recent tech poor sentiment atm.
If we continue the rally into
4H - confirms the new uptrend from the bounce off 0.815, higher highs and higher lows. Avg volume also starting to pick up. Bulls are in control atm. EMA 10 crosing over EMA 21, uptrend forming.
Assume entry at 0.96 just below todays close. Keeping SL wide as this will be a swing trade I anticipate to play our the next few weeks. Initial TP taken in the little island node in the middle (circled) of the low vol profile range. Entry is probably a bit aggressive and could wait a few days to get more confirmation of the trend. Feel I can be a bit aggressive in the entry as it will be a swing trade with a wide SL.
1W - has been in a strong down trend. Last week candle has a long lower shadow (wick) followed by the first strong reversal green candle (this week). Potentially oversold (RSI confirmed) due to recent tech poor sentiment atm.
If we continue the rally into
4H - confirms the new uptrend from the bounce off 0.815, higher highs and higher lows. Avg volume also starting to pick up. Bulls are in control atm. EMA 10 crosing over EMA 21, uptrend forming.
Assume entry at 0.96 just below todays close. Keeping SL wide as this will be a swing trade I anticipate to play our the next few weeks. Initial TP taken in the little island node in the middle (circled) of the low vol profile range. Entry is probably a bit aggressive and could wait a few days to get more confirmation of the trend. Feel I can be a bit aggressive in the entry as it will be a swing trade with a wide SL.