In the last post, a symmetric triangle was identified, after resistance break an immediate target was achieved, at next major resistance.
However, this resistance zone was not pose any resistance at all, so we could see a price rally to higher levels, and DMI confirms it. RSI and Stochastic (not shown) look overbought.
Market is currently struggling at the 0.786 Fibonacci Extension level. This could be a new entry level if broken towards the next resistance level at 1 Fibonacci Extension.
Next major resistance zone begins near $0.57. It seems unlikely to reach this level short term.
Trades could be opened right now at a 1.79 Risk/Reward ratio or even better, wait for a short term reversal and entry after uptrend is confirmed again. This would increase the Risk/Reward ratio.
However, this resistance zone was not pose any resistance at all, so we could see a price rally to higher levels, and DMI confirms it. RSI and Stochastic (not shown) look overbought.
Market is currently struggling at the 0.786 Fibonacci Extension level. This could be a new entry level if broken towards the next resistance level at 1 Fibonacci Extension.
Next major resistance zone begins near $0.57. It seems unlikely to reach this level short term.
Trades could be opened right now at a 1.79 Risk/Reward ratio or even better, wait for a short term reversal and entry after uptrend is confirmed again. This would increase the Risk/Reward ratio.
Nota
Possible reversal from 0.4 Dagangan ditutup secara manual
TP near 0.38 and exit
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.