Everyone seems to be bearish yet this setup suggests otherwise
Marked out the levels for profit taking (there's no such thing as one profit taking level)
Level 1 => s/r flip at 8.6K
Level 2 => blue rectangle area
Level 3 => fib 1.618 area
Level 4 => fib 2
A little about the trade...
- Falling wedge
- Regular bullish divergence
- Volume exceeding its moving average
- Stop loss place below or at the white support line at 8.4k
Some of the best trades are when confluence takes place and this one contains some of my favorites
*THIS IS NOT FINANCIAL ADVICE*
Marked out the levels for profit taking (there's no such thing as one profit taking level)
Level 1 => s/r flip at 8.6K
Level 2 => blue rectangle area
Level 3 => fib 1.618 area
Level 4 => fib 2
A little about the trade...
- Falling wedge
- Regular bullish divergence
- Volume exceeding its moving average
- Stop loss place below or at the white support line at 8.4k
Some of the best trades are when confluence takes place and this one contains some of my favorites
*THIS IS NOT FINANCIAL ADVICE*
Trade closed: target reached