It has been a while now but here is another idea I think could work.
Trade 1
Entry: Now
Stop loss: Somewhere below the upper line on the descending wedge
Target: 1.412 (+8,3%)
When: Middle of October this year?
Trade 2
Entry: 1.412
Stop loss: Somewhere above the dotted lines and the grey Gann line.
Target: 1.336 (+5,4%)
When: Beginning of May 2019?
Trade 3 - "Plan B":
Entry: Same as the stop loss on Trade 1
Stop loss: Somewhere above the upper line on the descending wedge
Target: 1.173 (+9.2%)
When: Middle of October this year?
Arguments:
- It is currently between arc 2 and arc 3 (Gann Square). The arcs works as support. It should remain above the arc 3 while it goes up.
- It just broke through the upper line on the descending wedge (marked with x). Because of this it should continue upwards especially after testing the upper line.
- It is currently on its way to the last leg in a rising wedge and should at least reach the upper line inside the rising wedge. Beware of the alternative path that might happen then.
- It is on the last leg of the Cypher Pattern. When 0.786 level is reached it might go downards (Trade 2).
- Target on trade 1 is also confirmed by the Gann line and the dotted lines. The target is also within arc 2 and arc 3.
- If stop loss on Trade 1 kicks in it means that we are below the upper line on the descending wedge and Trade 3 would kick in. In this scenario it might fullfill the wolf pattern. This is also where arc 4 is located.
Note! This is only TA, not Fundamentals.
Trade 1
Entry: Now
Stop loss: Somewhere below the upper line on the descending wedge
Target: 1.412 (+8,3%)
When: Middle of October this year?
Trade 2
Entry: 1.412
Stop loss: Somewhere above the dotted lines and the grey Gann line.
Target: 1.336 (+5,4%)
When: Beginning of May 2019?
Trade 3 - "Plan B":
Entry: Same as the stop loss on Trade 1
Stop loss: Somewhere above the upper line on the descending wedge
Target: 1.173 (+9.2%)
When: Middle of October this year?
Arguments:
- It is currently between arc 2 and arc 3 (Gann Square). The arcs works as support. It should remain above the arc 3 while it goes up.
- It just broke through the upper line on the descending wedge (marked with x). Because of this it should continue upwards especially after testing the upper line.
- It is currently on its way to the last leg in a rising wedge and should at least reach the upper line inside the rising wedge. Beware of the alternative path that might happen then.
- It is on the last leg of the Cypher Pattern. When 0.786 level is reached it might go downards (Trade 2).
- Target on trade 1 is also confirmed by the Gann line and the dotted lines. The target is also within arc 2 and arc 3.
- If stop loss on Trade 1 kicks in it means that we are below the upper line on the descending wedge and Trade 3 would kick in. In this scenario it might fullfill the wolf pattern. This is also where arc 4 is located.
Note! This is only TA, not Fundamentals.
Nota
A close-up on the current situation:Nota
Break out on the small wedge:Nota
Perfect bounce on the upper line (small wedge) right now:Nota
Not good forecast here, but anyway, it is still inside the Gann Arc. I've moved the "Cypher" pattern a bit.
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.