Potential Bullflag for Elrond EGLD to 264$
Updated
EGLD is printing a Bull Flag right now,
the question is ... is it a fakeout? We have to keep in mind that Bulls are still in control on the daily, Weekly, Monthly etc...
Potential targets of this bullflag is 263-264$ and can push to 271$.. even 277$. Let's see how this play out.
To breakout we need to go over all those resistances
-4 hour chart MA21 at 176.75$
-6 hour chart MA21 at 176.80$
-12 hour chart MA9 at 177.566$.
-2 hour chart MA50 at 179.89$
-0.236 fibonnaci at 176.553$
Keep in mind that this bull flag can turn in a triangle, if you want to try the swing.. get in after a confirmation over 180-181$... let them go over first.. and buy the retest of 180$ 177$. Always play with good Risk Management... Another way to play it is to wait the confirmation over the last ATH at 217$, after 217$ will be confirmed new support your good to 264$ (more than 20% gain).
One thing to note is that.. if we don't go lower short term and want to go directly in W5... 272.367$ is the 261.8% fib...
which would match with the destination of this bullflag.
Best to you my friends. Let me know what you think and what you see.
the question is ... is it a fakeout? We have to keep in mind that Bulls are still in control on the daily, Weekly, Monthly etc...
Potential targets of this bullflag is 263-264$ and can push to 271$.. even 277$. Let's see how this play out.
To breakout we need to go over all those resistances
-4 hour chart MA21 at 176.75$
-6 hour chart MA21 at 176.80$
-12 hour chart MA9 at 177.566$.
-2 hour chart MA50 at 179.89$
-0.236 fibonnaci at 176.553$
Keep in mind that this bull flag can turn in a triangle, if you want to try the swing.. get in after a confirmation over 180-181$... let them go over first.. and buy the retest of 180$ 177$. Always play with good Risk Management... Another way to play it is to wait the confirmation over the last ATH at 217$, after 217$ will be confirmed new support your good to 264$ (more than 20% gain).
One thing to note is that.. if we don't go lower short term and want to go directly in W5... 272.367$ is the 261.8% fib...
which would match with the destination of this bullflag.
Best to you my friends. Let me know what you think and what you see.
Note
We are now over the 4hr and daily VWAP.Note
Daily Vwap and 4hours VWAP are now supportNote
Trade active
EGLD has formed 2 options, 1 Rising Channel and 1 Falling channel. Will be a compression at the intersection, it can go up or down.Note
Trade active
Possible W2 targets Note
Shooting Star on the Weekly.. bearish Candle.. must watch for confirmations on the down side. 
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