The price action resembled Strategy 2, which is why I entered the trade. Unfortunately, it failed to break the previous high by the close, with resistance still holding overhead.
Positives
- MACD is at positive territory and turn strong
- Price is above the 10, 20, 50, and 200 moving averages
Negatives
- The price failed to break through the resistance level.
- RSI is over 70
Trade Plan
- Stop loss: Intraday low
- Target: $943.16
