TRXBTC - pitchfork & fibonacci retracement strategy
Updated
Trying to identify located trade entry and stop loss points around major fibonacci pivots like 38.2%, 61.8% and 78.2%
Draw a main trend pitchfork and reversal pitchfork in order to define potential support and confluence areas.
Main trend pitchfork have extended fibo lines, those serve as supports and interesting areas when crossed with the reversal pitchfork. Areas highlighet area a clear example wheren price found temporary support on the lines.
Keep attention when the price moves to the next zone around 61.8%
Having those located trade entries givesthe ability to open a position with tight and reasonable stop loss
Draw a main trend pitchfork and reversal pitchfork in order to define potential support and confluence areas.
Main trend pitchfork have extended fibo lines, those serve as supports and interesting areas when crossed with the reversal pitchfork. Areas highlighet area a clear example wheren price found temporary support on the lines.
Keep attention when the price moves to the next zone around 61.8%
Having those located trade entries givesthe ability to open a position with tight and reasonable stop loss
Note
UPDATE: Mean reversion completed! With a matching fibo 0.618 and CCI is rolling up 
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