NYSE:VMW
Currently testing 160 level, small resistance for the price. We are forming a double top with a possible cypher pattern. Pre market conditions are neutral, therefore we don't have any hint from it.
Tenkan crossed up Kijun and we are above the cloud while Chikou is lead by Span A.
I will check if the price will breakout over 160 resistance strongly with good amount of volumes (divergence between DI- DI+), in this case I will stay in the long position moving up the stop limit to price level 160.
In case the price will bounce or the breakout will not be so strong, I will reverse the current long position, shorting with the following setup:
Entry Point: 157.6
Stop Level: 163.67
Profit Level: 141.06
Good luck and happy trading!
Currently testing 160 level, small resistance for the price. We are forming a double top with a possible cypher pattern. Pre market conditions are neutral, therefore we don't have any hint from it.
Tenkan crossed up Kijun and we are above the cloud while Chikou is lead by Span A.
I will check if the price will breakout over 160 resistance strongly with good amount of volumes (divergence between DI- DI+), in this case I will stay in the long position moving up the stop limit to price level 160.
In case the price will bounce or the breakout will not be so strong, I will reverse the current long position, shorting with the following setup:
Entry Point: 157.6
Stop Level: 163.67
Profit Level: 141.06
Good luck and happy trading!