XTZ big jump incoming!
Updated
Reasoning:
- Elliot Wave 5 starting
- Falling wedge formed
- TD 9 on 4 hour providing support
- In ascending channel
- MACD bullish cross-over on 1h
Price target $3.3
- Elliot Wave 5 starting
- Falling wedge formed
- TD 9 on 4 hour providing support
- In ascending channel
- MACD bullish cross-over on 1h
Price target $3.3
Trade active
Note
It looks like a descending triangle forming on 1h, with support $2.90. While the risk of the trade does increase a bit, but given it is not formed during a downtrend, I lean towards it being a continuation pattern for more upwards momentum. I have initiated a trade, but if you haven't I suggest waiting it out in case it is a real reversal.Note
Stop loss set at 2.8Trade closed: stop reached
Whoops, plan cancelled due to macro
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