Hello traders , let's start with daily chart :
in the daily chart we can see clear flag , which is already broken by the price and also price retest the upper line as new support , one of the interesting fact about the AUDIO is that , this coin showing strength when almost all the markets now trying down trend ; and usually this means when the market back to the normal situation or start to rise , this coin could explode !!
but what's about the price targets ?
in the 2 different method you can measure the target of the flag :
1_ personally use this one , because by using fib level you are able to take profit in the way to the upside or down side and secure your profit in and step by step close your position :
the technical target of the flag could be around 1.618 fib level , but what I do personally is that I close 50% of my position at 1 fib level , and puts my stop loss at the break even for secure my profit and also secure my capital ; but for the remaining of the position I take 25% at the 1.27 fib level and 25% at 1.618 .
2_ in the normal way the technical target of the flag is the handle :
you can see the handle of the flag is alignment with the 1.618 fib level .
but let's talk about smaller time frame ( 4H chart ) :
in the 4H chart you can see when price break out from the flag , we have significant volume with the big green candle and also price comes down and retested the 4H structure and also the 21 ema and create a W pattern above the 4H structure , so all things looks very good for opening long position .
I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for watching my ideas
in the daily chart we can see clear flag , which is already broken by the price and also price retest the upper line as new support , one of the interesting fact about the AUDIO is that , this coin showing strength when almost all the markets now trying down trend ; and usually this means when the market back to the normal situation or start to rise , this coin could explode !!
but what's about the price targets ?
in the 2 different method you can measure the target of the flag :
1_ personally use this one , because by using fib level you are able to take profit in the way to the upside or down side and secure your profit in and step by step close your position :
the technical target of the flag could be around 1.618 fib level , but what I do personally is that I close 50% of my position at 1 fib level , and puts my stop loss at the break even for secure my profit and also secure my capital ; but for the remaining of the position I take 25% at the 1.27 fib level and 25% at 1.618 .
2_ in the normal way the technical target of the flag is the handle :
you can see the handle of the flag is alignment with the 1.618 fib level .
but let's talk about smaller time frame ( 4H chart ) :
in the 4H chart you can see when price break out from the flag , we have significant volume with the big green candle and also price comes down and retested the 4H structure and also the 21 ema and create a W pattern above the 4H structure , so all things looks very good for opening long position .
I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for watching my ideas