By Claus Andersen
- November 2019
The reversal pattern from last week carried on into this week. On the 60 min chart above it is clear that price is moving up in a bull trend channel. AIL buy the pullbacks. The channel has gone on for long now, and is bound to pull back sooner or later. But until we get a good reversal pattern you are better off buying pullbacks.
Price is moving up in trending trading ranges. Late in the week price pulled back and the pullback was bought as the market opened this week.
The pullback was a 100% expansion of the upper range, and a test of the prior smaller trading range early last week.
Buy at support manage at resistance. Don’t buy without a setup!
Have a nice trading week.