China New shares (LSE:CNEL) have gotten a new lease of
energy after a long period of hopelessness on the side of irrational
equilibrium. On a lower timeframe shown below, the price broke upwards, following
the recent trendless phase in the market and this is a beginning of a new
uptrend. Whenever a trading instrument is caught in a strong bias it is more
likely that the bias would continue to hold on.
On the chart, the EMAs, 10, 20, 50, and 200 are used. The
color that stands for each EMA is shown on the top left side of the chart. The
price broke upwards: the uptrend has begun. All the EMAs are thus acting as a great
barrier to the bearish threats and also as a support to the bullish effort. The
price could go upwards toward the resistance level of 10.500 within the next
several months.
Conclusion: China
New is set for a long upwards journey, but there would be some pullbacks along
the way. Rookies like to feel that they need to have a home run to make it big.
You don’t have control over the markets, and you’re bound to sustain negativity
sometimes. You can, however, develop a practical method so that negativity doesn’t
have effects on you.
This article is closed with the quote below:
“Trading is a classic sport for individuals. You are a
lone fighter and you are forced to deal with all the prominent aspects that
lead to successful trading. Every trader will eventually realise that he needs
a solid money management plan in addition to good analysis.” – Jens Klatt
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
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