I've been looking (learning) into the price volume resistance stuff you and GF were saying and yes you are correct. Major price resistance at $3+. Given It has recently hit $3 twice in a wee and currently back at $2.91 and seems likely to test $2.78-80 again a which point it could bounce up, but recent history suggests that it might go further down till it reaches its real support. A sensible trader may wish to sell at these points, and buy back in at the support and swing it again. I accept all that, I'm just hanging around at this price level because i want to test a potential scenario that may playout (however unlikely it might be). So im like only a 20% in the green right, and happy expend some of that to "take a punt" on that potential scenario. Given i have taken on board the popular T.A put forward by you and @goodfella, the risk/reward scenario, would my decision be considered within the "scope" of trading OR am I being delusional, wreck less, grandiose? Just looking for some genuine feedback so have at it.
Below is a 1 hour chart, and yes the volume is definitely not on my side, but if volume was not an issue would this chart ordinarily suggest that EML is at a "Make or Break" juncture. This is not a EML specific question, but more if i am reading the chart correctly. Thanking you both in advance
Z1P Price at posting:
$1.47 Sentiment: Buy Disclosure: Held
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Hey Boss,
(20min delay)