LUNC Short opportunity
LUNC/USD
Bearish Case
- Bearish Divergence on the 1hr, 4hr and 8hr
- Broken out of the ascending channel
- MACD on the 4hr looks to be turning bearish
- Topped out at 2.618 fib extension.
- Currently bouncing off the 0.236 fib retrace area,
Target Zone
- $0.00044958 (0.382 fib retrace)
- $0.00036185 (0.618 fib retrace)
Thoughts?
Bearish Case
- Bearish Divergence on the 1hr, 4hr and 8hr
- Broken out of the ascending channel
- MACD on the 4hr looks to be turning bearish
- Topped out at 2.618 fib extension.
- Currently bouncing off the 0.236 fib retrace area,
Target Zone
- $0.00044958 (0.382 fib retrace)
- $0.00036185 (0.618 fib retrace)
Thoughts?
Trade closed: target reached
Hit the target, nice trade and well done, although we have bounced. It can come back down again!
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.
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.