What does this strategy entail?
The instrument is in a consolidation range, with mostly price action. A horizontal resistance level has been tested on several occasions i.e. The share has attempted to break about this level. A bullish upside continuation trade may be applicable if the share manages to clear the resistance trading range, with strong intraday price action and large buy orders that can be identified via the order book.
Unum Trade is your Profit Partner, guiding you through each week’s market journey and strategies. To learn more, contact our Trading Desk team at tradingdesk@unum.co.za or call 011 384 2923.
Comments