I like this setup regardless of the outcome a great setup trade megaphone pattern, if you're into patterns with DXY facing resistance the strength of CRYPTOCAP:BTC is upside imo.
Oil taping at $58.75 per barrel is the liquidity high where volumes of bears are expecting to get in, surely wont miss my order, price has already shown decrease in bullish momentum , great confirmation of a daily close below $58.25, so we get ready for that short. risk- 1% to gaind a reward of 4.64%, definetly a good trade. lets see it play out nice.
The Weekly Chart of MU favors a bounce upwards. Your stop loss would be just below 45, and a profit target near 60. You risk about 3 dollars a share for a reward of 15 dollars a share. That's a 5 to 1 risk to reward which is outstanding. The next support level down is in the 38-40 dollar level, so if you get stopped out, the 38-40 level would be the next area...
Nice setup that possibly no one is watching. If a shift to commodities-metals happen, we could see a nice RR trade here.
Watchlist, we could see a nice setup here with good RR if this develops accordingly.
Good RR short entry. Small % risk, stope above recent weekly high.
This is a follow up to the previous post since it didn't share both charts... I wanted to add this chart in as well. This one also shows the the area at the top of the chart that wasn't really tested yet...