After the strong bearish momentum on Friday, lets see if the market continues to the downside, I am only risking 2% of my account on this trade however there is a tremendous risk to reward.
Waiting for potential buys, lets wait to see if the move to the upside will be sustained with a break above the indicated level, if not then we will wait to buy at the second level indicated
Within the two shaded regions, it is unclear which is the end of the 4th wave, also wave 5 was very short. Hopefully the next few months give a clearer indication of market direction
Lets wait for june and july to play out for a better market indication of some decent long term bitcoin trades.
Extremely long term trade, lets wait to see if wave 1 and 2 play out as expected and then we should look for long entries with a nice risk-reward ratio
Hoping for a move to the downside soon, lets see if Fib levels are respected
JSE:MRF Looking for a second long entry, first was at R0.33 We could see a retracement back down to about R0.36 level and then hoping for a move to the upside Always remember to scale out your positions and move stop loss to break-even after reaching initial targets