BCH/USD - Bullflag / Falling Wedge - 980 Breakout Target

Note

Let us analyze the Volume Profile and plan our moves.

# Previous strong resistance @750 has been tested by our falling wedge and now acts as support.

# We will watch 850 .... 900 closely

# Once we broke through 900, the Volume Profile suggests 980 ... 1020 as next major resistance area - which is our Fibonacci & Flagpole extension and target area!

Let us take a closer look:

1) This area has acted as support for the April bull run.
2) This area has acted as support end of May, beginning of June
-> but then failed.

Note

Bigger picture.

# Notice - Anytime we test this area as RESISTANCE it fails and we shoot above it.
# Despite last August - the test failed and we have been rejected by this resistance.

Trade active

Long is doing well. We broke out of that small iH&S

Set Stop Profit ~@797
Watch for resistance @860

Note

Stop profit got triggered yesterday. Re - enter with a better position

Key resistance/support is now 832 ...... set a take profit order right under it and let the gains run.

yoshi_32bit

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yoshi_32bit