Long
[VRC/BTC] Watch List:Crucial Level - Possible Strong Up Movement
We have several factors pointing up, 1-month-old support, Fibonacci's retracement, uptrend, but on the other hand, we have the 50 EMA working as a resistance and the stochastics show that we are far from oversold.
I will definitely observe how it will behave from here, if it crosses the EMA it's a very good sign and also if the stochastics go down holding the price levels that's a good sign too.
Since it's a huge risk:reward situation considering the potential Fibonacci levels, I will keep my eyes on it.
If it show's a movement up and you buy in, use the ATR to adjust your stop-loss as you go since it might be a long up trend(3 days +)
I will definitely observe how it will behave from here, if it crosses the EMA it's a very good sign and also if the stochastics go down holding the price levels that's a good sign too.
Since it's a huge risk:reward situation considering the potential Fibonacci levels, I will keep my eyes on it.
If it show's a movement up and you buy in, use the ATR to adjust your stop-loss as you go since it might be a long up trend(3 days +)
Note
As the behavior follows as expected, you can use the lines of the Fibonacci's retracement as sell targets.Note
Perfect trade with an astonishing +64% profit.
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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.