Let's hope for some retracement this time!
A Mechanical LONG entry for BNBBTC
Based on a previous impulsive wave up a trend based fib is drawn giving the targets, the ignition level to start looking for a possible entry is reaching the 0.5 fib which it has already reached and then looking for a further retracement back to the 0.25 level for entry, profit taking is the 1.0 level with a stop loss also indicated on the chart.
The Mechanical Entry based on these fibs offers a 3:1 risk reward ratio as long as you adhere to the basics of a trend based fib from an impulsive move and use stops!
A Mechanical LONG entry for BNBBTC
Based on a previous impulsive wave up a trend based fib is drawn giving the targets, the ignition level to start looking for a possible entry is reaching the 0.5 fib which it has already reached and then looking for a further retracement back to the 0.25 level for entry, profit taking is the 1.0 level with a stop loss also indicated on the chart.
The Mechanical Entry based on these fibs offers a 3:1 risk reward ratio as long as you adhere to the basics of a trend based fib from an impulsive move and use stops!
Trade active
Literally touched the 0.25 area on the 15 min chart, trade now active.Trade closed manually
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.