Price may reach 1911.091
Updated
The Bulls are winning against the Bears at the moment.
The bears try to push down the price to 1889.195, only to push the price even higher, forming a very long wick that effectively rejects MA 5/10 low area.
This bullish signal becomes invalid if the price reaches 1884, which is our invalidation zone that invalidates QM Buy from my earlier analysis.
My strategy for today is to patiently wait for the price to pull down on the buy area that I marked in this chart, and set two TP zones at 1.618 and 2.618 fib extension.
While we can place long at MA high or mid bb, I do not want to risk possible pullback to low bb, thus to minimize risk, I'll be patient and just wait for the price to go down to the marked buy area. So that in case that SL were hit, the loss won't really be much devastating.
The bears try to push down the price to 1889.195, only to push the price even higher, forming a very long wick that effectively rejects MA 5/10 low area.
This bullish signal becomes invalid if the price reaches 1884, which is our invalidation zone that invalidates QM Buy from my earlier analysis.
My strategy for today is to patiently wait for the price to pull down on the buy area that I marked in this chart, and set two TP zones at 1.618 and 2.618 fib extension.
While we can place long at MA high or mid bb, I do not want to risk possible pullback to low bb, thus to minimize risk, I'll be patient and just wait for the price to go down to the marked buy area. So that in case that SL were hit, the loss won't really be much devastating.
Note
The "1911.091" level is potentially a short zone for bears, so one may place their shorts there and place SL around 1917On 1d chart, the area is 10-period MA high of BBMA strategy, and at the same time, there's a drop base drop formation last August 14 which makes it an ideal entry for short.
Note
Price hits our 1911.091Just place my bet (sell) at this level. Hoping not to hit my SL short
On 1d chart, it's both MA 10 high (short re-entry) previous drop base drop zone.
SL at 1917
Note
SL were hit at 1917.
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