Long
LONG on MATIC from Retracement
Matic undergoing correction now, has pulled back a ratio of 0.382.
After an extended rally, we expect retracement of MATIC down to the lower support zones around @ 2.232, where we look to BUY or LONG.
This area is the golden pocket, a 0.618 retracement from the ATH where we look for a solid rebound. This region also overlaps with the 200 EMA on the 4H, which can provide even more support.
Highly likely the MACD would reach oversold once we hit this level.
Buy zone : 2.20 - 2.28
SL 2.02
TP 2.67 (0.786 fib level + major resistance region)
After an extended rally, we expect retracement of MATIC down to the lower support zones around @ 2.232, where we look to BUY or LONG.
This area is the golden pocket, a 0.618 retracement from the ATH where we look for a solid rebound. This region also overlaps with the 200 EMA on the 4H, which can provide even more support.
Highly likely the MACD would reach oversold once we hit this level.
Buy zone : 2.20 - 2.28
SL 2.02
TP 2.67 (0.786 fib level + major resistance region)
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