High Probabiliy Scenario on Binance BNBBTC
Hello,
There is a congregation of Fibs, Gann, Harmonics, Volume Profile, patterns and Divergences.
Advantages of this trade:
1. There is a nice bullish Harmonic Gartley pattern.
2. Location of price as for now is sitting at the 78.6% retracement.
3. Divergence in MACD.
4. Falling Volume in a Falling downtrend, meaning the downtrend is losing strength.
5. Sitting well below the POC (Point of Control) of the Volume Profile, meaning that most of the traded volume is sitting at a price well above around the 23.6% retracement.
6. Location of price sitting at the 8x1 line of the Gann fan. (Traders love the 8x1 line).
7. Candlestick reversal, forming a crappy morning star.
8. ABCD at the end of the downtrend close to the 1.618AB=CD.
7. There is a possible bullish 5-0 harmonic pattern in formation which is close to the 3x1 Gann line, the 38.2 retracement fib level and near the POC of the Volume profile.
8. Price trapped in huge falling Wedge.
9. Cofluence all over the place.
Disadvantages of the trade:
1. Price is in downtrend.
2. We need a huge awakening green volume bar to start a reversal.
3. The Market does whatever it wants it does not cares about patterns, or whether you are right or wrong, its a scenario with high probability of success but it can FAIL.
Please no more than 5% of your capital, and always EMBRACE stop losses.
Not financial advice.
If you like the analysis please give it a like. Thanks for reading.
Robertus
There is a congregation of Fibs, Gann, Harmonics, Volume Profile, patterns and Divergences.
Advantages of this trade:
1. There is a nice bullish Harmonic Gartley pattern.
2. Location of price as for now is sitting at the 78.6% retracement.
3. Divergence in MACD.
4. Falling Volume in a Falling downtrend, meaning the downtrend is losing strength.
5. Sitting well below the POC (Point of Control) of the Volume Profile, meaning that most of the traded volume is sitting at a price well above around the 23.6% retracement.
6. Location of price sitting at the 8x1 line of the Gann fan. (Traders love the 8x1 line).
7. Candlestick reversal, forming a crappy morning star.
8. ABCD at the end of the downtrend close to the 1.618AB=CD.
7. There is a possible bullish 5-0 harmonic pattern in formation which is close to the 3x1 Gann line, the 38.2 retracement fib level and near the POC of the Volume profile.
8. Price trapped in huge falling Wedge.
9. Cofluence all over the place.
Disadvantages of the trade:
1. Price is in downtrend.
2. We need a huge awakening green volume bar to start a reversal.
3. The Market does whatever it wants it does not cares about patterns, or whether you are right or wrong, its a scenario with high probability of success but it can FAIL.
Please no more than 5% of your capital, and always EMBRACE stop losses.
Not financial advice.
If you like the analysis please give it a like. Thanks for reading.
Robertus
Comment:
The top line of the falling wedge moved by mistake. Should be steeper. Just noticed.
“All fixed set patterns are incapable of adaptability or pliability. The truth is outside of all fixed patterns” BL
Trader Since 2016. Industrial and Operations Engineering at U of Michigan, Ann Arbor. MBA IPADE. Master in Finance EGADE.
Trader Since 2016. Industrial and Operations Engineering at U of Michigan, Ann Arbor. MBA IPADE. Master in Finance EGADE.
One question: if you were Cz Binance where would you buy? Or say if you were a large institution...Which would be your ideal place to buy and pump the coin? After the coin has been pumped where do you think cz binance would sell? To who? To the average joe. Don't be that guy that buys at the top from the whales. Think like a whale not as a beta fish. Just thoughts that are worth to reflect.