Who’s up for trading long-term trend continuation and reversal setups?
If you are, then y’all better look at what’s cookin’ on LULU, BTC/USD, and GBP/NZD’s charts!
Which among these setups will you likely trade?
Lululemon (LULU): Daily
Put your tight pants on because Lululemon Athletica Inc. (LULU) is reporting its Q4 and 2021 earnings this week!
And as if that’s not exciting enough, LULU is also testing an established descending channel resistance AND is showing a bearish divergence on the daily time frame.
Watch how LULU reacts to the $320 – $330 zone. If we start to see hesitation or dojis, then LULU might extend its weeks-long downtrend.
But if the green candlesticks keep coming, then LULU could revisit higher areas of interest like $350 or $370.
GBP/NZD: Daily
GBP/NZD has been poppin’ up multiple dojis near the 1.8900 psychological handle!
As you can see, 1.8900 had served as a solid support back in November. Not only that, but it was a major area of interest in early 2021!
Bulls who are expecting a bounce would love to know that there’s currently a bullish divergence on the daily chart.
Before you place your buy orders like there’s no tomorrow, though, you might want to wait for a bit of momentum first. You just never know when the bears are in the mood for long-term breakouts, ya know?
Bitcoin (BTC/USD): Weekly
Where my crypto-trading buddies at? BTC/USD is showing healthy green candlesticks after bouncing from the $36K support and 100 SMA on the weekly time frame.
Stochastic has just taken off from the oversold zone, so there might be room for more gainz in the next few weeks.
Look out for the mid-channel resistance near $50K in case we see some profit-taking.
Planning to go all in just because we’re seeing bullish pressure? As the Black Panther once said, we don’t do that here.
Make sure to make good risk management decisions this week, trading friends!
