SXP is currently within a channel and anticipating another move up to the channel resistance.
We have a red descending trendline in place which we can watch for confirmation.
Trade Idea:
- Risk Entry now
- Safe entry after the break of the red descending trendline
- Stops below the channel and 78.6 Fibonacci
- Target the recent highs as first TP and -0.27 as second TP. HODL the rest
We might be at the start of another bull run so leave one position open!
We have a red descending trendline in place which we can watch for confirmation.
Trade Idea:
- Risk Entry now
- Safe entry after the break of the red descending trendline
- Stops below the channel and 78.6 Fibonacci
- Target the recent highs as first TP and -0.27 as second TP. HODL the rest
We might be at the start of another bull run so leave one position open!