On Daily TF, trend is following Harmonic Bearish Reversal Crab Pattern. Point D defines the TP here which is a potential reversal zone.
For education purpose, this is Crab not Butterfly because Butterfly Pattern has B point at much higher level at 0.786 with Point D at much lower level of 1.27 level.
RSI is around 80 and seeing the resistance zone (53.93~54.63) it is likely to retrace a bit before going up and breaking the resistance.
Klinger is also suggesting a very strong bull run.
Trade Values
Buy 1; 49~50 (On retrace)
Buy 2: 55 (after breaking resistance zone)
TP: 59
For education purpose, this is Crab not Butterfly because Butterfly Pattern has B point at much higher level at 0.786 with Point D at much lower level of 1.27 level.
RSI is around 80 and seeing the resistance zone (53.93~54.63) it is likely to retrace a bit before going up and breaking the resistance.
Klinger is also suggesting a very strong bull run.
Trade Values
Buy 1; 49~50 (On retrace)
Buy 2: 55 (after breaking resistance zone)
TP: 59
Trade closed: target reached
TP reached.
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.
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.