HUBTOWN recovers from lows

There was a kind of double bottom on weekly spaced over time. Second swing high after RSI bottomed out. Took a long position with stop as shown. Trailing stop loss will be used to manage.

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Index is correcting want to stand aside

İşlem aktif:

This is still a good entry for me. Price breached the high of previous day and ready for next swing. This is a paper trade, index is falling so very apprehensive. The downside is price did not close above the previous day high.

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Have closed this paper trade. Here is the updated analysis -

Monthly is very bearish. Chart does not have sufficient imprints to plot monthly trends. Short term weekly downtrend has got breached. Daily was up and has now breached the up trend. So it is better to stand aside.