Market is about to finish retracement to the uptrend, we are 50% fib zone and a strong support, we are looking for market to break the flag and rise up. MACD is bouncing between long and short it means we are losing momentum for short position completing consolidation and reversing to go back up, also we bounced off of a bottom Bollinger band.
Entry: 73
Target 1: 95.62
Target 2: 115.65
Invalidation: 62.55
Ratio to first target: 1:2
Ratio to a second target: 1:3.74
If you want a safer entry wait for market to break a structure up, you will have a bigger stop loss and less profit, but you will have no more confirmation to which side market is going.
Entry: 73
Target 1: 95.62
Target 2: 115.65
Invalidation: 62.55
Ratio to first target: 1:2
Ratio to a second target: 1:3.74
If you want a safer entry wait for market to break a structure up, you will have a bigger stop loss and less profit, but you will have no more confirmation to which side market is going.
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