$UNI
Big breakout move but momentum's getting stretched now, expecting a pullback before next leg
Long $UNI
Entry: 7.00-7.15
SL: 6.70
TP1: 7.48
TP2: 7.80
TP3: 8.20
This thing ripped from the 5.4 zone to 7.48 on heavy green volume, that's a proper breakout not just noise. But StochRSI is sitting at 87 which is overbought territory, so chasing it here is risky. Better to wait for it to cool off and retest the 7.00-7.15 zone which was the old resistance, now flips to support. Trend structure is still bullish above both MAs so dips should get bought.
Big breakout move but momentum's getting stretched now, expecting a pullback before next leg
Long $UNI
Entry: 7.00-7.15
SL: 6.70
TP1: 7.48
TP2: 7.80
TP3: 8.20
This thing ripped from the 5.4 zone to 7.48 on heavy green volume, that's a proper breakout not just noise. But StochRSI is sitting at 87 which is overbought territory, so chasing it here is risky. Better to wait for it to cool off and retest the 7.00-7.15 zone which was the old resistance, now flips to support. Trend structure is still bullish above both MAs so dips should get bought.