After a heavy red-blooded wave down, I see a potential Fibonacci retracement to 0.238. We are currently stuck within the triangle as shown above. For that retracement to become true, we need to break out the top of the triangle. If that happens, I'm seeing a possible move up to the 4600 - 4800 USD region.
P.S. if we are unable to break the top of the triangle and break downwards instead, I will probably open a short position instead.
To be clear, this is no financial advice, just transparency on my current strategy.
P.S. if we are unable to break the top of the triangle and break downwards instead, I will probably open a short position instead.
To be clear, this is no financial advice, just transparency on my current strategy.
Trade active:
Opened long position at 4160 USD. Have stop-loss at 2.70% (4050 USD)
Trade closed manually:
Closed long at 4230 USD as the top was rejected. Got lucky considering the drop under my initial stop loss.
Let's hope we see some more action soon.