Strong support lines coming from previous highs are good support at the moment, and they are forming a wedge with a resistance line.
The next strong resistance is at the 0.788-0.805 level simply looking at previous ATH levels. Pink line indicates this strong resistance at 0.805. This also coincides with the Fibb level (@ 0.809)
I suspect price will go down to about 0.675 next 2-3 days, and also looking at RSI, this seems very likely. Then it will shoot up. And only to hit resistance as mentioned.
The next strong resistance is at the 0.788-0.805 level simply looking at previous ATH levels. Pink line indicates this strong resistance at 0.805. This also coincides with the Fibb level (@ 0.809)
I suspect price will go down to about 0.675 next 2-3 days, and also looking at RSI, this seems very likely. Then it will shoot up. And only to hit resistance as mentioned.
Note
@0.684 is a healthy retest level, if you're looking for small 1-3% profit trades every 3-4 hours, this would be a good zone to enter. Sell at at @0.712, or at Fibb level @0.721. Then enter again once it passes the fibb retracement level at @0.721, and STAYS there for a 2-3 hours you can buy around @0.721 - 0.730, and then sell again at @0.756 because thats the previous resistance trend line. If it passes that and MACD and RSI are looking good, sell at @0.80.
I only set up my trades for guaranteed 2-3% profit daily. So if you follow me, I don't aim for the moon, I aim at consistent 2-3% each day. I trade hourly, and I trade using RSI and MACD.
Note
Price had hit target earlier, and it is still moving in ascending parallel channel
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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.