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wait for sellers to reach their target(db neckline) before buying
then find a good entry point with tight stop and aim for this consecutive fib levels as tp's: 1, 1.272 , 1.618
confirmed by emas acting as resistance and about to cross
its important to set a tight stop and take a great part of the profit at trendline
price may revisit 1.35lvl first (prz) and at this zone it would be interesting to look at price action. because it never pullback after breaking this resistance so bulls may want to defend this level.
pay attention to the...
Three confirmation setup.
Harmonic pattern will be completed
in the blue box , its also the target of
the ABCD pattern
the divergence in the Stoch is confirmating
that a trend reversal should happen
when price hit point D and reject the zone, it
will be important to verify if there is a bullish
candlestick to have a third confirmation
so waiting for price to...
and now have retest 618 fib. there is still room for price to move up
it reacted well since it formed a bullish engulfing on it. we can aim for higher level, the final target is point D of harmonic bat.
for more safety the stop loss is to be placed much lower than below the bullish engulfing (because of high volatility)
there is the emas about to cross, there is a bearish divergence on mac, there is a trendline broken and there is a rounded top after price broke neckline
considering these elements , a short is possible from here and aiming for the rose box
this is a high profitable trade since stop loss is quite tight and winning rate is high (could be around 80%)
before entering it will be safer to take a look at lower tf in order to make an analysis in 1h and optimising this setup.
also it will be a nice thing to observe price action at market open because if price gaps up , the whole setup will be cancelled
as we can see there is a lot of common point: strong rejection of a key level, macd cross
I expect the price to stagnate here for a few days before forming a next impulse similar to what it did
as a result we could see price juming to 70k
as we can see there is a lot of common point: strong rejection of a key level, macd cross
I expect the price to stagnate here for a few days before forming a next impulse similar to what it did
as a result we could see price juming to 70k