The break of $600 a key resistance point as a nice whole number and as the Fibs 0.61 point
ADL has been gradually rising and RSI is nicely at a 53%
Will look to enter 1 hour after London opens today
The R/R so far looks like a 1:1.5 ratio
The Situation
With the close of Oct, money seems to be flowing back in the the markets
Midterms are over and it seems like the increased in democrats splitting congress will make radical policy changes less likely. Thus giving some certainly to investors
Adyen also recently announced that it has entered Canada and this aligns nicely with the rising Cannabis industry situated in Canada.
Issues/Risks
The risk that this rally is short term, if the price retreats to $553.9 breaking the Fib 0.786 point then we are certain. This is an estimated 9.2% Risk
To be safe I will be leveraging 5k Margin across the full trade and will enter at 50% first, once the price breaks the fib 0.382 point I’ll enter the remaining 50%
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Hmm i'm actually not so sure how come the stock suddenly dropped by 10%. Not yet on news will monitor this.