BFBIO being a recently listed SCRIPT, limited data is available on Daily TF, therefore, this analysis is being done on 15 min time frame.
After a strong bull run the price has retraced to Fib level of 53 % (186) before going a little bit up (at the time of this analysis price is 189).
60% Fib retracement level is quite possible as RSI divergence on 1h TF is about to be formed (Ideal would be on Daily TF).
Therefore, best entry could be to buy at 180 for getting maximum possible advantage. On the other hand, a safe Buy entry will be after the price goes up and makes a new High (above previous Lower High), so that HH, HL in a bull run is confirmed.
My Trade values:-
Buy-1: 180
BUY-2: 207
TP-1: 300
Stop Loss: 159
After a strong bull run the price has retraced to Fib level of 53 % (186) before going a little bit up (at the time of this analysis price is 189).
60% Fib retracement level is quite possible as RSI divergence on 1h TF is about to be formed (Ideal would be on Daily TF).
Therefore, best entry could be to buy at 180 for getting maximum possible advantage. On the other hand, a safe Buy entry will be after the price goes up and makes a new High (above previous Lower High), so that HH, HL in a bull run is confirmed.
My Trade values:-
Buy-1: 180
BUY-2: 207
TP-1: 300
Stop Loss: 159
Trade active
It seems that Higher Low at 185.50 has been established, for the next bull run. As Buy-1 could not be triggered and price went up very sharply to Upper cap at 207. So I'm buying now at Buy-2.
Hoping to reach the TP-1 of 300 in short duration.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.