TUGS continues to consolidate towards the support line of the uptrend price channel. This consolidation/pullback has been warned already by a prior bearish divergence pattern on RSI and EFI.
*MA20 acting as immediate support area for the current uptrend.
*Resistance area around 4.00~4.13.
Trading Plan
- Trade the trend of TUGS using MA20 or the uptrend support line as entry point (use the Stochastic crossover and pointing up as reference timing signal).
- Stop-loss should be on price channel breakdown. Can use the breakdown from MA50 as stop-loss for those willing to take higher risk.
- Avoid on price channel breakdown.
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