The price on Angle (LSE:AGL), which has already been
in a bullish mode, was corrected southward in September and October 2013. When
this was happening, some wonder how long it would take for the bull to be murdered
along the way. It is too much for the fox to kill the chicken and the chicken’s
owner. Right now, the price has resumed a bullish journey which is expected to
last for several weeks or months. The market would keep on battering every bear
along the way.
On the chart, the ADX period 14 is almost above the
level 60, signifying serious buying pressure. The DM+ is also above the DM-,
showing that the bias is northward. The MACD (default parameters) has both its
signal lines and histogram above the zero line. There is a Bullish Confirmation
Pattern on the chart, and the trend would continue going upwards towards the resistance
line of 148.00.
It has been seen that no trading instrument would
keep on going upwards forever; so it looks sensible to plan an exit target at
an optimal distribution territory – which is the aforementioned resistance line,
while applying trailing stop.
This forecast is ended with the quote below:
“One of
the most frustrating experiences in trading is knowing what to do, how to do
it, and when to do it, and not being able to execute.” – Joe
Ross
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
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