For those of you who have been patient enough to secure a low risk entry on MO, your patience has paid off.
As you can see MO has found support at the 76.4 fib retrace and a trendline that spans back to 2008. If the fib support holds here and proceeds upward, that gives us a target of around 100% - 123% fib zone.
The price action formation is also a bull flag on the daily chart.
Of course the market is in an overall correction, so keep that in mind when placing your stop loss.
As you can see MO has found support at the 76.4 fib retrace and a trendline that spans back to 2008. If the fib support holds here and proceeds upward, that gives us a target of around 100% - 123% fib zone.
The price action formation is also a bull flag on the daily chart.
Of course the market is in an overall correction, so keep that in mind when placing your stop loss.
Uwaga
Quick correction, the fib is currently not support and is located ~53.83 as you can see in the chart. Wait for it to become support before considering a safer entry.Anulowano zlecenie
78.6 fib never became support therefore we never received an entry.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
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My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.