Falling Wedge MCOBTC MID to LONG low risk reward ENTRYforexop.com
For more info on this indicator; read the link above.
Everything listed is in the chart above including:
Targets 1 & 2 (for the conservative trader) 72-90 HRS est -- a great SHORT TP exit if you're not into HODLing
Target 3 (key target for TP for it represents the pivot & is quintessential in determining whether or not we'll have a continuity, in which case:
Target 4: this is the ideal EXIT position we're looking for -- assuming current trends and indicators remain in effect; timeframe speculative though est. 7-10 DAYS est
The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. ...
As a reversal pattern, the falling wedge slopes down and with the prevailing trend.
Overall, this presents itself as a much better (LONG) position though TP1 & 2 are geared for shorts for those interested
Disclaimer
Not Financial Advise
- @a1mTarabichi
Mcovsbtc
MONACO CUP AND HANDLE!Monaco has given its price signal by the breakout it made yesterday, and we can see a lot of indicators such as EMA 20 crossing EMA 200 in 1h time frame and also it has been on a falling wedge reversal and with this signal we have the confirmation of it making the cup. So we are hading to 0.0014 price level from there we should be making the handle and after that we should see if its going to be the blue pill or the red pill depending on where the market is. And now is the best time to buy as the we have retraced from the signal and we have 1h stoch at oversol and demarker showing reduction in demand since the signal. And we have been seeing big red Elliot waves before and for a decent amount of time and now the market is going green again with the Elliot waves so now it is buy buy buy!!
Target for this trade: 0.0014-15 BTC.
Good Luck, traders!
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