QES Trade 24 Mar 2021 - Part 1

REASONS FOR TRADE:

Weekly chart:
10-week MA was angling up and price has retraced to the 10-week MA line.

Daily chart:
Price has rebounded off support zone with a long green candle after stochastic %K has become oversold.

Refer to weekly and daily charts below.

ENTRY:

Bought on 24 Mar 2021 at 0.54 after price rebounded off its support zone with a long green candle.

EXIT:

Exit half my position on 20 Apr 2021 at 0.65 when QES hit its resistance zone.

LOOKAHEAD:

QES is now trading at all time high. The next target based on Fibonacci projection is at 0.845.

Disclaimer:

Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.