LINK.USD poised for a breakout, possible First Target plotted
Updated
ChainLink just keeps on going up and up!
Looks like we are in a "wave 5" final leg.
But first we need to break above resistance.
This is an update to my last Analysis looking for a Break Out. (click).
Previous LINK analysis:
$2.87 Target Call (perfect exits)
$2.65 Support Call (several long entries)
recent Impulse Redux (caught recent top)
$2.7 target plotted (perfect roadmap)
Support/Bounce zones (caught recent bottom)
Breakout Zones plot (caught the breakout)
May 2019 support zones (caught all turns)
$1.46 Bottom Call (caught exact bottom)
Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.
.
Looks like we are in a "wave 5" final leg.
But first we need to break above resistance.
This is an update to my last Analysis looking for a Break Out. (click).
Previous LINK analysis:
$2.87 Target Call (perfect exits)
$2.65 Support Call (several long entries)
recent Impulse Redux (caught recent top)
$2.7 target plotted (perfect roadmap)
Support/Bounce zones (caught recent bottom)
Breakout Zones plot (caught the breakout)
May 2019 support zones (caught all turns)
$1.46 Bottom Call (caught exact bottom)
Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.
.
Comment
Trade never triggered because it did not cross the resistance band.So it seems wave 5 had actually finished at the Green 5.236
Thus my point about needing to break that resistance first, to expect any more upside in this wave.
.
Comment
Retrace may be done If the purple 2.236 breaks, then the 1.618 is next stop, and that would be a less bullish retrace point.
But if the purple 1.618 breaks, then all bets are off....
.
Related publications
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.