MATICUSD - LONG
Updated
% Price is at macro uptrend since early February and also in a Macro symmetrical/Descending triangle.
%Fib Retracement 38.2% : Price is currently testing this level .
% If price broke out 38.2% and makes the phase 2 of up trending trendline ....... i will be DCA my long trades from $1.18 - $ 0.95.
% If price makes the Macro cup and a handle/ Inverse H&S ...... I will be entering at when the retest happens around $ 1.62.
% Since there is a possibility of bearish divergence from MACD & RSI ... i might wait till the pattern forms to enter unless there is volume supported bullish candle .
%Fib Retracement 38.2% : Price is currently testing this level .
% If price broke out 38.2% and makes the phase 2 of up trending trendline ....... i will be DCA my long trades from $1.18 - $ 0.95.
% If price makes the Macro cup and a handle/ Inverse H&S ...... I will be entering at when the retest happens around $ 1.62.
% Since there is a possibility of bearish divergence from MACD & RSI ... i might wait till the pattern forms to enter unless there is volume supported bullish candle .
Note
% Cup & Handle Price target : $2.63 which is also the Fib Ext. 78.6%.% I will also be taking some profits form Fib EXT. levels on 50% and 61.8% as well.
Trade active
% Pending order triggered at 1.625 and moved the second pending order to $1.31 (fib 38.2%) because bearish divergence is still visible
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