High probability 'Reversion to the Mean' trade. 80% odds.
Updated
Can't get better odds than this. If the pivot low holds there is an 80% probability of the price reverting back to the median line. Currently the target is +45% but the longer it takes the higher the target. A realistic target would be around 80%
Key points:
Never Trust. Verify.
D.Y.O.R. Not Financial Advice Just an Observation.
Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
Key points:
- The low is at the 0.618 fib
- Pivot low need to hold
- Entry: at current price 0.03077
- Best entry at 0.029815 and below
- Target is pitchfork median line, so constantly moving higher but currently at .0438
- Stops at 0.02795
- Good Risk: Reward ratio at 1:5 and increasing with time
Never Trust. Verify.
D.Y.O.R. Not Financial Advice Just an Observation.
Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
Trade closed: target reached
Target hit for this high probability trade. (+ 95%)Second target is 1.168 fib and is about + 70% - this is not the same trade, see idea below.
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