ROSE - Possible Falling wedge bullish breakout, level to watch
Updated
For those watching ROSE, look for a bounce at 0.27 (previously marked area of interest, and 0.68 fib retrace) for a possible continuation to the upside with a break of this falling wedge formation. May be the opportunity to reload before it attempts another move up
Break to the low side will see a move toward 0.21-0.22 trend support
Detail about ROSES levels and movements in related idea
Break to the low side will see a move toward 0.21-0.22 trend support
Detail about ROSES levels and movements in related idea
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Trade is active, 20% jump from the reversal point. Looks like a confirmed breakout :) watch for the deep retestNote
Just below 0.36, not a bad time to lock in some profit if you haven't already. +30% so far
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If we can hold above 0.32 bullish wave will continue.
Alternatively we dump and retest the price floor from which it launched and after that the 0.27 - I'll be looking for a sharp bounce off the price floor if it dumps
Hoping we just hold 0.32 and continue up though
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With BTC little dip, new wedge in formation. See what happens, sellers getting active
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Rose attempting breakout right now. We break this neckline we go up to major resistance
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ROSE trading plan, for upside and downside movements:
I'm really impressed ROSE has so far held the 0.3 support zone, I have trades active and my stop losses are nestled in under both that support zone and the possible dynamic support forming as marked on the chart.
If we break up: we can see a global trend has now formed for this structure. ROSE will need to break that trend and the 0.32 resistance for the buyers to gain the upper hand. I will be taking profits at the 0.35-0.36 neckline and reloading if we pierce through that zone of the 4H retest. There is as the possibility of a descending channel resistance, but I think the trend and neckline are the primary points to watch.
If we break down: If we break to the down side, I will be watching for a bounce first at the revisit to the 0.27, but the 0.23-0.21 is the optimal buy zone as this is the confluence of a high value area at 0.23 and the dynamic support ROSE has been active for the past couple of months. This is the zone I will be looking to really load up. Happy trading
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