trade idea 4 & price action analysis 2

Googl analysis

1.Bullish bar that took out the low of the support (false break)
2. MACD divergence
3. Bounce off 50dma on weekly time frame (even stronger when it pierce through the 50dma and close above 50dma with a bullish candle)
4. Also at/near trendline support
5. Confluence with monthly support which has been tested few times as resistance. (Previous resistance become support)
*Zoom out the monthly chart to see clearer picture(Multiple time frame analysis)

Bonus:
6. Fundamentally good stock. (Revenue, net income, free cash flow are rising every year)

Summarize:
Good entry to go long

I miss the lower time frame entry earlier on when the break of structure occur at lower time frame. I will still place a limit order for 2 to 3 weeks to see if my order will fill

Next week I will review a trade that I closed last month with price action technical analysis

#priceaction