At this point, I will be following the possible movements EGLD can make. I think the likely scenario will be to see the demand zone below (around $ 41).
If it cannot see enough demand in the demand area, I think it may hit the support of $ 39, which I have been thinking about for a long time. Therefore, I will set up accordingly.
If it cannot see enough demand in the demand area, I think it may hit the support of $ 39, which I have been thinking about for a long time. Therefore, I will set up accordingly.
Note
At the moment, my conviction that it will undergo a strong demand zone is stronger.
I will try to evaluate the first and relatively narrower demand zone, and then I will try to move my position to the strong demand zone.
If I encounter a multi-hour close above 44.15, I will turn Long.
I am not shorting at the moment.
Trade active
I'm in.
Longed.
Entry: 44.37
Stop: 42.55
TP1: 46.70
TP2: 48.90
TP3: 51.00
Note
After I stopped on my last position, I saw that the possible demand zone turned out to a demand zone.
So I am still watching but there is an unexpected accumulation period right now.
My targets are still open. No positions for now.
Note
Got it.
Note
It is wonderful to see how strong support worked again and carried until Daily block of 51 USD.Trade closed: target reached
Related publications
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.
Related publications
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.