In February we have seen a bull run of around 50%.
We than entered a retracement period.
Are we ready for round 2?
We can clearly see a triangle forming during this retracement period the volume confirms this triangle.
A triangle however is not really a very bullish or bearish sign. But we can however we nicely use this
to determine when to enter. I will get back on this later.
There a few bullish signs:
- The fast ema(50) is above the slow ema(200)
- Price is above a green ichimoku cloud.
- Conversion line(blue line) is above the base line(the red line)
- A hidden bull div, price making higher lows and oscillators making lower lows.
This hidden bull div is very good in a retracement period after an uptrend.
It shows signs of trend continuation.
Oscillators:
RSI itself is pretty neutral at around 50.
The stoch rsi is more on the bullish side but not overwhelmingly bullish.
So how to trade this?