FXCM’s Cannabis Basket’s hourly showing potential momentum push
FXCM’s CANNABIS basket is in the bullish area on the daily chart on the left. The hourly EMAs and stochastic are in mode and potentially align short-term traders with the daily. The stochastic has moved into the upper quintile, and maintenance of this level (blue arrow) increases the chance of a successful trade. Trend following indicators may be useful in this case as a potential exit tool. Stop under hourly support in conjunction with risk management techniques.