Finally had that big momentum breakout. Now we wait for a pull back for entries.
Likely zones will be near the last broken daily high around 38%.
After this retest, the upside potential has 4 zones ( where price touched the trendline on the way down)
REASONS NOT TO ENTER YET:
1. DAILY CANDLE NOT CLOSED YET, PRICE CAN REVERSE AND CLOSE BELOW TL.
2. CHASING A GREEN DILDO RIGHT NOW, COULD PROVIDE A PREMATURE ENTRY AND GIVE UNECESESSARY DRAWDOWN.
3. W-Reversal Pattern almost complete.
4. Price is touching the 2.5STD 20EMA Bollinger bands. (~95% of price pulls back when it touches the top/bottom of the channel.
Likely zones will be near the last broken daily high around 38%.
After this retest, the upside potential has 4 zones ( where price touched the trendline on the way down)
REASONS NOT TO ENTER YET:
1. DAILY CANDLE NOT CLOSED YET, PRICE CAN REVERSE AND CLOSE BELOW TL.
2. CHASING A GREEN DILDO RIGHT NOW, COULD PROVIDE A PREMATURE ENTRY AND GIVE UNECESESSARY DRAWDOWN.
3. W-Reversal Pattern almost complete.
4. Price is touching the 2.5STD 20EMA Bollinger bands. (~95% of price pulls back when it touches the top/bottom of the channel.
Note
Note
Got a short entry at the top, will be looking to take advantage of the pull back, while taking some profit on the way down..just incase. Current ascending channel, with a wedge forming on the 15min. Stop Limit at +45% profit. Will re-enter given price continues to show weakness. wont be long unless it falls on my daily zone.Note
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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.