5.8k held, 6k-6.1k hedge long/long opportunity.
As we can see, the 5.8k level held and so bulls are eager to enter into positions (displayed by the parabolic 1H). a great place to hedge long/long at this point would be 6k-6.1k with target of 6.7k-7k.
why 6k-6.1k as support to hedge:
- 0.618 - 0.78 fib levels
- previous support before liquidity pool
why 6.7k-7k as target:
- 0.618 fib level
- 1D kijun
Note: if we move fast enough, theres alot of liquidity past 7k to move us as close to as 7.4k.
Note: if 5.8k gets breached this analysis is invalid and 4.7k would be seen as theres liquidity under 5.8k.
why 6k-6.1k as support to hedge:
- 0.618 - 0.78 fib levels
- previous support before liquidity pool
why 6.7k-7k as target:
- 0.618 fib level
- 1D kijun
Note: if we move fast enough, theres alot of liquidity past 7k to move us as close to as 7.4k.
Note: if 5.8k gets breached this analysis is invalid and 4.7k would be seen as theres liquidity under 5.8k.
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.