Please leave a like if you find value in this post. It is a really quick and effective way to show your support! Thank you and have a great day!
We have a Head and Shoulders Pattern on the 4H. If we break the neck line around $6100, then we will go short to the next yellow support box ($5550 area).
This support box also has confluence with the Head and Shoulders measured move and the 0.5 Fibonacci from the impulse move down on March 11th.
This trade is valid after closing a 2H or 4H candle below the yellow support box which also has confluence with the 4H 55EMA (green line). Alternatively, you may enter the trade if price ticks below $6035, but this is a riskier approach.
We may see a little pullback around $5900. We have weak horizontal support there as well as the 0.5 Fibonacci from the impulse up on March 18th. This Fibonacci is not show in this chart.
--
Entry: 6071
Entry Zone: 6220-6015
T1: 5971
T2: 5895
T3: 5760
T4: 5610
T5: 5456
Stop: 6317.5
--
R:R: 2.49
Risk: 4.06%
Reward: 10.13%
Leverage: 5X
Leveraged Risk: 20.3%
Leveraged Reward: 50.65%
--
Disclaimer:
This is not financial advice. I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. This is for educational purposes only.
We have a Head and Shoulders Pattern on the 4H. If we break the neck line around $6100, then we will go short to the next yellow support box ($5550 area).
This support box also has confluence with the Head and Shoulders measured move and the 0.5 Fibonacci from the impulse move down on March 11th.
This trade is valid after closing a 2H or 4H candle below the yellow support box which also has confluence with the 4H 55EMA (green line). Alternatively, you may enter the trade if price ticks below $6035, but this is a riskier approach.
We may see a little pullback around $5900. We have weak horizontal support there as well as the 0.5 Fibonacci from the impulse up on March 18th. This Fibonacci is not show in this chart.
--
Entry: 6071
Entry Zone: 6220-6015
T1: 5971
T2: 5895
T3: 5760
T4: 5610
T5: 5456
Stop: 6317.5
--
R:R: 2.49
Risk: 4.06%
Reward: 10.13%
Leverage: 5X
Leveraged Risk: 20.3%
Leveraged Reward: 50.65%
--
Disclaimer:
This is not financial advice. I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. This is for educational purposes only.
Note
The first 4H closure below the yellow support zone was on March 22nd at 9AM. Price then came back up to test prior support, which flipped to resistance. That would have given you a perfect entry.Note
First two targets hit!T1: 5971 - HIT (8.23% Gain)
T2: 5895 - HIT (14.5% Gain)
T3: 5760
T4: 5610
T5: 5456
Note
First three targets hit!T1: 5971 - HIT (8.23% Gain)
T2: 5895 - HIT (14.5% Gain)
T3: 5760 - HIT (25.61% Gain)
T4: 5610
T5: 5456
Let's get this crypto!
General Inquiries: t.me/cryptoguru369
Twitter: twitter.com/CryptoGuru369
Twitter: twitter.com/CryptoGuru369
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.
General Inquiries: t.me/cryptoguru369
Twitter: twitter.com/CryptoGuru369
Twitter: twitter.com/CryptoGuru369
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.