Trading idea for ThyssenKrupp (XETRA)

ThyssenKrupp (XETRA)

#TKA

Sector: Industrial Manufacturing.

Bears are testing the 200 EMA on the H4 timeframe, as well as the 13.50 support level. Both the Awesome Oscillator and the Stochastic Oscillator show a bullish divergence. The downward wave structure is truncated.

Trading Idea:

Enter a long position upon the formation of an upward wave structure, where wave (A) breaks through the descending channel of the truncated downward structure.

Place a stop-loss below the local low of the truncated downward structure (13.50).

Target levels: 14.27; 15.40.