Old Mutual trading styles for buys - Target R13.70
There are many different ways to trade Old Mutual looking at this chart.
1. Reversal trader
They will wait for the support to establish as it's done at R10.00 and then will buy and hold until it reaches the top of the range.
2. Breakout trader
WIll wait for the price to go up and complete the W Formation where it will breakout and trade up to R13.70
3. High probability trader
This one will have to wait the longest for the price to not only close above the W Formation but also close above the Downtrend and the 20MA and 200MA.
Either way, Old Mutual does look bullish as things stand.
Enjoy!
1. Reversal trader
They will wait for the support to establish as it's done at R10.00 and then will buy and hold until it reaches the top of the range.
2. Breakout trader
WIll wait for the price to go up and complete the W Formation where it will breakout and trade up to R13.70
3. High probability trader
This one will have to wait the longest for the price to not only close above the W Formation but also close above the Downtrend and the 20MA and 200MA.
Either way, Old Mutual does look bullish as things stand.
Enjoy!
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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