Good day, my friends!
I am back to work and ready to trade again.
OVERVIEW:
* Nice 32% pullback to a previous consolidation zone. Price touched the top of the previous descending channel, telling us that the previous resistance flipped to support.
* If that's the actual bottom, Fib-extension telling us that we may expect price action to go up till $20-28 minimum from current position. It's almost 100% move.
* We don't now how much time it will take, but at least we can try to predict the beginning of a future move.
3 POSSIBLE SCENARIOS:
1. GREEN - Upwards. We have to trade above 13.4XX level
2. YELLOW - Sideways. The price is trading 12.5XX and 13.5XX
3. RED - Downwards. We break below $12 level to finally found the bottom.
HOW TO TRADE IT?:
Current correction is a nice opportunity to go long. But i don't want to get caught in a trap, that why i remain calm and wait for a Premium Buy Signal at 4H chart.
To get the Signal i need to see blue MFI to cross above my golden line. It may occur between 14 January - 16 January. We just don't know from what level it will go up, that depends on which one of these 3 scenarios will take place on the chart.
I also will have to check on OBV to make sure we are taking off. I'll will use 1H OBV for confirmation.
* Click like and subcribe on my channel to look at my SHORT-TERM trades.
* This market doesn't respect doubters. Let's make money and enjoy our life!
I am back to work and ready to trade again.
OVERVIEW:
* Nice 32% pullback to a previous consolidation zone. Price touched the top of the previous descending channel, telling us that the previous resistance flipped to support.
* If that's the actual bottom, Fib-extension telling us that we may expect price action to go up till $20-28 minimum from current position. It's almost 100% move.
* We don't now how much time it will take, but at least we can try to predict the beginning of a future move.
3 POSSIBLE SCENARIOS:
1. GREEN - Upwards. We have to trade above 13.4XX level
2. YELLOW - Sideways. The price is trading 12.5XX and 13.5XX
3. RED - Downwards. We break below $12 level to finally found the bottom.
HOW TO TRADE IT?:
Current correction is a nice opportunity to go long. But i don't want to get caught in a trap, that why i remain calm and wait for a Premium Buy Signal at 4H chart.
To get the Signal i need to see blue MFI to cross above my golden line. It may occur between 14 January - 16 January. We just don't know from what level it will go up, that depends on which one of these 3 scenarios will take place on the chart.
I also will have to check on OBV to make sure we are taking off. I'll will use 1H OBV for confirmation.
* Click like and subcribe on my channel to look at my SHORT-TERM trades.
* This market doesn't respect doubters. Let's make money and enjoy our life!
Note
Note
The signal may occur as expected between NOW and 17 January, it may take a little bit longer, we have to be patient. The perspective to reach $20-$23 level is here
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.