Stacks (STXUSD) has been trading within a Channel Down pattern since the March 20 High. Yesterday it made the first break-out attempt above the Internal Lower Highs, but closed back below it. At the same time it got rejected exactly on the 1D MA50 (blue trend-line).
A similar Internal Lower Highs trend-line dictated the first part of the Channel Down and after the 1D MA50 broke and closed a candle above it, made the Lower High at the top of the Channel Down on the 0.618 Fibonacci retracement level.
As a result, we will wait for the 1D MA50 to break in order to buy and target the 0.618 Fib at 0.65000. There is a high probability that it will make contact with the 1D MA200 (orange trend-line) on that level.
-------------------------------------------------------------------------------
** Please LIKE ๐, FOLLOW โ , SHARE ๐ and COMMENT โ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
-------------------------------------------------------------------------------
๐ธ๐ธ๐ธ๐ธ๐ธ๐ธ
๐ ๐ ๐ ๐ ๐ ๐
A similar Internal Lower Highs trend-line dictated the first part of the Channel Down and after the 1D MA50 broke and closed a candle above it, made the Lower High at the top of the Channel Down on the 0.618 Fibonacci retracement level.
As a result, we will wait for the 1D MA50 to break in order to buy and target the 0.618 Fib at 0.65000. There is a high probability that it will make contact with the 1D MA200 (orange trend-line) on that level.
-------------------------------------------------------------------------------
** Please LIKE ๐, FOLLOW โ , SHARE ๐ and COMMENT โ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
-------------------------------------------------------------------------------
๐ธ๐ธ๐ธ๐ธ๐ธ๐ธ
๐ ๐ ๐ ๐ ๐ ๐
๐Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
๐ฐFree Channel t.me/tradingshotglobal
๐คตContact info@tradingshot.com t.me/tradingshot
๐ฅNew service: next X100 crypto GEMS!
๐ฐFree Channel t.me/tradingshotglobal
๐คตContact info@tradingshot.com t.me/tradingshot
๐ฅNew service: next X100 crypto GEMS!