BAT moving north soon?
BAT has been working its way through a triangle on the 1-day chart, bouncing below and above the 200 and 55 EMA (purple & yellow) in the process. Currently, the price sits as a green candle right below the purple 200 EMA. The "1 day, 200 EMA strategy" says that you take a position when the price action goes north of the 200 EMA and exit a position when the price action dips back and breaks through to the 55 or 200 EMA as support.
Understanding this, if BAT breaks north through the 200 EMA (resistance) it could begin opening and closing candles north of the 200 EMA. The strategy says that this is where you consider a position and watch for a run north, monitoring the 55 and 200 EMA as it runs.
Right now BAT is hovering below the purple 200 EMA. Until it breaks through it and holds it as support I remain neutral.
The RSI looks to be in an uptrend as well. The RSI uptrend level of support is shown with the white trend line.
Not financial advice obviously, simply for educational purposes. Make your own trades, that is what it is all about.
Peace friends!
Understanding this, if BAT breaks north through the 200 EMA (resistance) it could begin opening and closing candles north of the 200 EMA. The strategy says that this is where you consider a position and watch for a run north, monitoring the 55 and 200 EMA as it runs.
Right now BAT is hovering below the purple 200 EMA. Until it breaks through it and holds it as support I remain neutral.
The RSI looks to be in an uptrend as well. The RSI uptrend level of support is shown with the white trend line.
Not financial advice obviously, simply for educational purposes. Make your own trades, that is what it is all about.
Peace friends!
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