The impulse, as I wrote, began with a small block on a chart around $6250. The volume of the candlestick on the first "leg" is a bit confusing, but we can probably say that it is on this impulse that we will break through the range with the main resistance of $6850-7000. All stops above this area are now at risk. The first and the minimum target to exit the $7200-7350 rang, but the final target is $7675. I'm not going to run any further, now the main thing is to break through the resistance of $7000, because until it is broken, it is still the main resistance. All the moves down to $4700 and below are canceled for now, and for me personally the shorts below $7600 are becoming risky. You can put a long foot in the $6200 zone. It is very unlikely that the price will return to this zone in the next week, and if it does, the break-down scenario of $7000 can be completely canceled.
If someone didn't make it to the long end, that's how I would trade. If the impulse is not fake, the correction of 38-50% is the most optimal entry zone, the price return at 78% will put the deal into question. This is where you can put a stop. If you're in the $6250-6300 zone, the stop is best kept at 6250. Stop is mandatory. You can partially unload the deal at $6950, more than half at $7300 and close it at $7600, gradually moving the stops to the rest of the position.
that's where I wrote about the impulse:
If someone didn't make it to the long end, that's how I would trade. If the impulse is not fake, the correction of 38-50% is the most optimal entry zone, the price return at 78% will put the deal into question. This is where you can put a stop. If you're in the $6250-6300 zone, the stop is best kept at 6250. Stop is mandatory. You can partially unload the deal at $6950, more than half at $7300 and close it at $7600, gradually moving the stops to the rest of the position.
that's where I wrote about the impulse:
Trade closed: target reached:
the idea worked itself out.
fresh idea
fresh idea
Comment:
+10%
