FAF long above 42.10

Reading charts tonight I fell on FAF which attracted my attention and would consider getting in around 42.10 with a stop around 40.39. The weekly chart shows a potential uptrend with the EMA trending up and the MACD histogram slope is also up (Elder‘s Impulse System). On the daily chart I see the same pattern: EMA trending up and MACD histogram sloping up also. The TSV recently crossed under which could indicate a good entry point.

On the weekly chart, I see a trend up in the last weeks which could break-out. Currently the EMA is sloping up and the MACD Histogram is also sloping which gives you the green light from Elder‘s Impulse System.

FAF 01-09-07 weekly

The daily chart shows a similar situation with EMA trending up and the MACD histogram also trending up. The daily chart also has the TSV crossing below zero which could indicate a good opportunity to get in if the trend maintains.

FAF 01-09-07 daily
I would approach this with caution (like every trade) but would definitely consider getting in long around 42.10 placing an initial stop around 40.39 to see how the game plays out.

Leave a Reply

Your email address will not be published. Required fields are marked *