FSLY - idea to swing this guy
FSLY is in a rising trend with frequent steep pullbacks towards its rising 50 day MA.
It appears to manifest a certain swing pattern that is quite tradable
Potential to long:
1. when bullish divergence (between price and RSI) begins to appear
3. better if there is also backed by some other supports (eg 50%-61.8% fib retracement levels)
2. wait for 1st bullish candle to long
On alert to take profits when:
1. RSI is overbought and one or two small sideway candles begin to appear, or
2. bearish divergence began to form
Just an idea! Stop Loss is still necessary if this idea stops working
Disclaimer:
TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie stop loss and position sizing) is (probably the most) important!
Take care and Good Luck!
It appears to manifest a certain swing pattern that is quite tradable
Potential to long:
1. when bullish divergence (between price and RSI) begins to appear
3. better if there is also backed by some other supports (eg 50%-61.8% fib retracement levels)
2. wait for 1st bullish candle to long
On alert to take profits when:
1. RSI is overbought and one or two small sideway candles begin to appear, or
2. bearish divergence began to form
Just an idea! Stop Loss is still necessary if this idea stops working
Disclaimer:
TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie stop loss and position sizing) is (probably the most) important!
Take care and Good Luck!
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