Potential SHORT position (swing):
* R:R: anywhere from 1:1 to 2:1 (depends on any scale out strat)
* ENTRY: when local upward trendline is broken
* STOP: above ATH
* TARGET #1: .382 fibs (~94K)
* TARGET #2: .786 fibs/longstanding upward TL zone (80-85K)
Potential LONG position (swing):
* R:R: ranging from 1.5:1 to 2:1 (depends on any scale out strat)
* ENTRY: when ATH is broken (~110K)
* STOP: below new (flipped) support zone (~103-105K)
* TARGET #1: 120K (.786 fib ext)
* TARGET #2: 130-135K (1:1 fib ext)
This is my first ever TV idea (:
* R:R: anywhere from 1:1 to 2:1 (depends on any scale out strat)
* ENTRY: when local upward trendline is broken
* STOP: above ATH
* TARGET #1: .382 fibs (~94K)
* TARGET #2: .786 fibs/longstanding upward TL zone (80-85K)
Potential LONG position (swing):
* R:R: ranging from 1.5:1 to 2:1 (depends on any scale out strat)
* ENTRY: when ATH is broken (~110K)
* STOP: below new (flipped) support zone (~103-105K)
* TARGET #1: 120K (.786 fib ext)
* TARGET #2: 130-135K (1:1 fib ext)
This is my first ever TV idea (:
Note
We are currently testing the ATH resistance. If bulls break 110K with conviction we can consider opening the long position.Note
Failed to break ATH resistance and price is being forced below the upward trendline now (pending close of 4H candle).Short position can be opened with adjusted numbers: stop @ 111-112K, T1 @ 97K, T2 @ 93-88K, T3 @ 83K.
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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.