Today, we have a long setup to share. Here you will see a full explanation of the logic behind it.
a) We always start on the weekly chart; we want to understand the main context.
b) There we can see that the price has broken the previous all-time highs, and after that, a massive consolidation started
c) Now, on the Daily chart, we can see that the consolidation is a clear ABC pattern (FLAG structure), which is considered a bullish pattern
d) Classic chartism would also say that we can see a CUP and HANDLE structure, which is also a bullish structure
e) Setup configurations: Entry is above B and the previous All-time highs zone. The stop is below C. Take profit is on the last Fibonacci Extension. Break-even is on the first Fibonacci Extension. Risk Rewards Ratio 1.55
f) We will risk 1% of our capital on this trade
g) We will cancel the setup if the price goes below C
h) Remember: Trade Safe, protect your capital, and always understand what you are doing
a) We always start on the weekly chart; we want to understand the main context.
b) There we can see that the price has broken the previous all-time highs, and after that, a massive consolidation started
c) Now, on the Daily chart, we can see that the consolidation is a clear ABC pattern (FLAG structure), which is considered a bullish pattern
d) Classic chartism would also say that we can see a CUP and HANDLE structure, which is also a bullish structure
e) Setup configurations: Entry is above B and the previous All-time highs zone. The stop is below C. Take profit is on the last Fibonacci Extension. Break-even is on the first Fibonacci Extension. Risk Rewards Ratio 1.55
f) We will risk 1% of our capital on this trade
g) We will cancel the setup if the price goes below C
h) Remember: Trade Safe, protect your capital, and always understand what you are doing
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.