Depending how big your stack is, this is how you play this.
Long 2945 area +/-.
Remember, 2930.00 is the 0.618 retracement on the dot from the February ATH to the March lows.
If you start longing at 45 and it goes down, you need to be ready to double down.
If you're more risk cautious, wait for a hammer to form.
If you're a bear, take profits here (like me).
For whoever is so inclined, here is the full 4 hr chart.
Long 2945 area +/-.
Remember, 2930.00 is the 0.618 retracement on the dot from the February ATH to the March lows.
If you start longing at 45 and it goes down, you need to be ready to double down.
If you're more risk cautious, wait for a hammer to form.
If you're a bear, take profits here (like me).
For whoever is so inclined, here is the full 4 hr chart.
Note
So I was a little bit early, 30 was the magic number. Still made money though thanks to risk management.The problem is, when fib lines are so close to supports, it's better to just wait and long the fib number instead of the support itself.
Note
Please go here for update.
Note
Stalled out at 61.8% retracement, that's where I wanted to short but I FOMOed and entered too early.CD leg coming in hot, that 2930 has to go!
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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.