I am nervous about this reversing to the downside since it's on the end of several 5 wave counts but if it makes 3 point box shape with the wxyxz pattern then the right corner around 24 would be a good spot to scalp long.
Since you have two other points to define the bottom of the box it allows for a small stop to be used and even though the target is close by at just under 28 you can still get 10 R out of it.
I am currently in a BTC BULL 3x token scalp long so this bnb setup is not my main priority but it is something to watch for. Once it gets to 28 it will be very hard to see any reason for it to continue so it is not the type of trade to let your profits run if you're on a small time frame. This is one where you take the money and run.
Since you have two other points to define the bottom of the box it allows for a small stop to be used and even though the target is close by at just under 28 you can still get 10 R out of it.
I am currently in a BTC BULL 3x token scalp long so this bnb setup is not my main priority but it is something to watch for. Once it gets to 28 it will be very hard to see any reason for it to continue so it is not the type of trade to let your profits run if you're on a small time frame. This is one where you take the money and run.
Comment:
I'm out of the BULL scalp so I was looking at this trade again and noticed it seems to me making high or low swings ever 50 15 minute bars which puts a potential Z point at 2 am this morning, not sure I'll bother with that.
