Screenshot from Yahoo Finance Timeframe 1D USB
R1 - 53,76
S1 - 49,54
Graph analysis
How you can see the price is in price channel. Which is good for swing traders. Normally someone would say price went through R1 line which is resistance line. But I think this was a fake puncture. So you could better wait till price really goes through R1 line. Now I'm going to tell you how You could move into the trade.
Short position
You could go into short positioning if the price goes through S1 line which is support line or when price bounce off R1 line. But that's only good for swing traders who are making money from bounces off the price.
Long position
I would recommend going into long position if the price goes through R1 line or when price bounce off the red line but how I said that's only good for swing traders.
Summary
Now I'm going to tell you which way to choose but here I would better recommend waiting because the price is in price channel which is only good for swing traders. But when you all could take profit ? I would recommend when price meet another support or resistance line depends on your positioning.
I'm Warning you !!
I'm not responsible for your money loses !! I'm here just for make estimates ! The trade depends on you You can just inspire from me !! But if you lose money I will not give you money back and no one will! Stocks exchange is very hazardous have that in mind ! I'm not guarantees accuracy of any content and hence using information on this website is solely your responsibility. The article is only for an informational character(nature) and should not be take(taken) as investment advice for the purchase or sale of stocks(shares) or other instruments. The reader agrees that the purchase or sale of stocks(shares) and other instruments based on the content of this article is at his own risk and liability.
Disclaimer
That all decisions the trader takes itself, and all indicated is not advice and a guarantee of profit
No comments