The measured move from the descending triangle has already played out for Jasmy - and it is surpassing that move.
There is a set of fib extensions based upon the bearish breakout from the descending triangle - they are in yellow. They seem to be getting followed by price action. The 4.236 of that sequence is setting around 0.00289. There is also some fib extensions from a fib retracement based upon the peak and trough of the tallest part of the descending triangle that have a 1.618 around .0034.
My buy zone where I will be making my next large purchase based upon this TA is in the range of 0.00289 to 0.0036. I think that this may turn out to be a great value zone - and we may get a huge rally after hitting this area. If it continues down - this will still be a great spot to buy long term IMO, and I will continue to value buy further down as well.
Thank you!
There is a set of fib extensions based upon the bearish breakout from the descending triangle - they are in yellow. They seem to be getting followed by price action. The 4.236 of that sequence is setting around 0.00289. There is also some fib extensions from a fib retracement based upon the peak and trough of the tallest part of the descending triangle that have a 1.618 around .0034.
My buy zone where I will be making my next large purchase based upon this TA is in the range of 0.00289 to 0.0036. I think that this may turn out to be a great value zone - and we may get a huge rally after hitting this area. If it continues down - this will still be a great spot to buy long term IMO, and I will continue to value buy further down as well.
Thank you!
Note
Note
Note
We closed with a Dragonfly doji and a Doji on the daily and 2D charts JUST under the descending triangle measured move. Compelling and tempting for sure.Note
Trade closed: target reached
This aged incredibly well!
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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.