Good day trade, may continue tomorrowThis is one I mentioned today at 9:40 am when it was at
.475 saying that if it broke
.48 it should move quickly with resistance at
.50 and then
.58. Within minutes it made its first move to
.51 (morning caffeine rush) and then retraced to
.48 again. This became the day's support like and move again after the caffeine rush at 10:15 to run to
.57, a penny shy of my intraday target. Can't win them all! LOL! For the rest of the day, it drifted down to retest support at
.48 and closed the day at
.49.
The reason why I'm pointing this one out again is not really for a swing trade, but more of a long day trade. Indicators are oversold on the daily chart and it bounced off the 200 SMA on Monday (it was halted all day on the 15th). Today's volume will probably not be matched tomorrow, but I do expect this one to have another morning caffeine rush and hope to scalp it. If this one holds
.52 tomorrow, it will place it back into the long term trend lines and may very well become a swing trade as well. Like I said in my comments on Sienna Gold, I am very careful with capital these days.
See charts here https://us1.campaign-archive2.com/?u=4d6d491aea8e01d93d8a1f390&id=c152e9389a#QRE
Cheers!