Hi all,
I just went long on EDO.
Reasons:
- We have breach of downwards sloping resistance
- We have a breach of horizontal resistance too
- We have a higher low (marked by the blue line) under that resistance, after two equal lows (double-bottom)
- The second of the two lowest lows includes a Mother Candle / Inside Bar set-up with a close high, right underneath horizontal- and sloping resistance now both broken
- We have a close above the higher-high and above both resistance lines
- Volume is picking up
- They have a very realistic mission and are busy little bees
Heavy confluence of bullish factors indicate that price doesn't wish to go lower here and so, I got in long.
Share if you care.