Hi!
Today I want to share with YNDX idea.
This is short to mid-term long trade.
Basically, we have the following signals promissing us a profitable trade:
1) The stock is oversold
2) The stock has reached major support level
3) A possible distribtion on extremely high volume also took place
4) A reversal hammer pattern on the last bar
5) Finally, fundamentally Yandex is also not so bad
So, we can use 2 entry points:
the first one is a last day bar High 27.82 (27.81 + 1 tick).
We can also enter the market after the crossover of the local resistance line.
Well, it's pretty obvious that the first entry point is a more risky, but we can afford a larger position considering we place stop-loss much closer to the entry point. On the other hand, if the price will break through the resistance level then we will have better chances for the further ascent.
Stop-loss should be palced somewhere around the resistance level or yesterday bar Low 26.46 (26.47 - 1 tick)
Thanks for your attention and good luck!
Today I want to share with YNDX idea.
This is short to mid-term long trade.
Basically, we have the following signals promissing us a profitable trade:
1) The stock is oversold
2) The stock has reached major support level
3) A possible distribtion on extremely high volume also took place
4) A reversal hammer pattern on the last bar
5) Finally, fundamentally Yandex is also not so bad
So, we can use 2 entry points:
the first one is a last day bar High 27.82 (27.81 + 1 tick).
We can also enter the market after the crossover of the local resistance line.
Well, it's pretty obvious that the first entry point is a more risky, but we can afford a larger position considering we place stop-loss much closer to the entry point. On the other hand, if the price will break through the resistance level then we will have better chances for the further ascent.
Stop-loss should be palced somewhere around the resistance level or yesterday bar Low 26.46 (26.47 - 1 tick)
Thanks for your attention and good luck!