I don't use 5 minutes or ma's. I look at the weekly/daily/hourly
Strength to me would be a wide range bar or two in the opposite direction followed by a pause and or some sideways action. This is usually followed by a continuation. But not always :p
What's your rationale for this trade if you don't mind me asking.
Its in a downtrend and I can't see any signs of strength in the weekly daily or hourly. The hourly looks like a pullback with more down side to come.
Regards and all the best whatever the outcome.
Well he certainly could have got out as it went back to where he entered. So he either got out for a small loss or small profit.
OR He's still holding :eek: