Cookie Policy

Chartsview Blog

The Latest Blogs from Chartsview

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Archives
    Archives Contains a list of blog posts that were created previously.
  • Login

CNR daily 23/07/13

by in ChartsView Blog:
  • Font size: Larger Smaller
  • Hits: 2163
  • Subscribe to this entry
  • Print
Today Condor Gold confirmed a higher low with a bullish reversal pattern and 83p providing strong support in the last 3 days.

Unsurprisingly after the downtrend there's plenty of resistance ahead so my strategy here would be to go long on a close above 95p, with a stop below 83p, as that will form a higher high and a 123-low breakout.

We'll have to be careful here though because there's both the next price resistance and the downtrend resistance just ahead of that level so the RSI will be key to see if and where to take profit: if the RSI breaks out of its downtrend before the price does then it could indicate be an early signal to stay long; if the RSI reverses off its trendline then I'd take profit and perhaps also move stops up until a breakout occurs.

For a riskier trade we could enter now 
Trackback URL for this blog entry.


  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest Wednesday, 10 August 2022