Though this may just be a retracement of the downmove, but it is of good potential.
Expecting for price to reach just under 0.0475 and initiating a long position to target initially 0.057 for a nice 20% gain.
A 12H close below 0.0475 will invalidate this trade.
Expecting for price to reach just under 0.0475 and initiating a long position to target initially 0.057 for a nice 20% gain.
A 12H close below 0.0475 will invalidate this trade.
Note
Long position initiated
Note
I am changing my method slightly, instead of waiting for a close I will just put a stop loss at recent swing low for this long trade and move my stops up accordingly. That is the method I am comfortable with.
SL at just under 0.041
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.