Hello fellow traders,
At and above entry we have a cluster of HTF resistances:
I would argue that this is a relatively low-risk trade because of the confluences at that level. Take a profit when the trade has been completed for 50% and move your stop-loss to entry.
Good luck and happy trading!
Kind regards,
n1d0
At and above entry we have a cluster of HTF resistances:
- Horizontal (Weekly)
- HTF Fib Fans (0.5)
- HTF Fib Retracement (0.328)
- Order Blocks
- VPFR from ATH (VAL)
I would argue that this is a relatively low-risk trade because of the confluences at that level. Take a profit when the trade has been completed for 50% and move your stop-loss to entry.
Good luck and happy trading!
Kind regards,
n1d0
Note
I forgot to mention another confluence: the 30k price level itself. It is an important psychological resistance.Note
As if we didn't have enough confluence: above entry we also have the 0.236 Fib Retracement level from ATH.Order cancelled
Cancelled! But the idea is still valid. I will post this again if we are approaching the level.
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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.