BCH/USD - Bullflag / Falling Wedge - 980 Breakout Target
Comment:
Bigger picture.
# Notice - Anytime we test this area as RESISTANCE it fails and we shoot above it.
# Despite last August - the test failed and we have been rejected by this resistance.
# Notice - Anytime we test this area as RESISTANCE it fails and we shoot above it.
# Despite last August - the test failed and we have been rejected by this resistance.
Trade active:
Trade active:
Trade active:
Trade active:
Long is doing well. We broke out of that small iH&S
Set Stop Profit ~@797
Watch for resistance @860
Long is doing well. We broke out of that small iH&S
Set Stop Profit ~@797
Watch for resistance @860
Comment:
Stop profit got triggered yesterday. Re - enter with a better position
Key resistance/support is now 832 ...... set a take profit order right under it and let the gains run.
Key resistance/support is now 832 ...... set a take profit order right under it and let the gains run.
# Previous strong resistance @750 has been tested by our falling wedge and now acts as support.
# We will watch 850 .... 900 closely
# Once we broke through 900, the Volume Profile suggests 980 ... 1020 as next major resistance area - which is our Fibonacci & Flagpole extension and target area!
Let us take a closer look:
1) This area has acted as support for the April bull run.
2) This area has acted as support end of May, beginning of June
-> but then failed.