Straight to the action!
Entry point criteria:
1. We have historically a strong resistance which now becomes a support at $6767, the area is widened to the $6800 because there are some wicks what we may touch and from there we have to watch what the price action shows to us!
2. Fibonacci I - pulled from 22.08-28.08 retracement 38%
3. Fibonacci II - pulled from 26.08-28.08 retracement 62%
4. Fibonacci 3. - pulled from 29.07-14.08: we made a breakout on the 28.08 from 38% retracement level and now we come back and retest this area!
5. The minor upwards cross with the = strong area - pulled from bodies since 14.08 (dotted black line)
* 1h chart - 200EMA in this green box
* 2h chart - 100&200EMA in this box, plus we have a "death cross" earlier so, it could mean this is just a healthy pullback
* 3h chart - 100&200EMA in this box
* 4h chart - ALL OF THEM in this box 50,100&200EMA
7. Possible Divergence
8. Definitely, we wait and watch the current price action in this area if we reach there
Targets (partial profit areas):
1. Around $7000 - If we don't find so much power to go higher then that's the place where we can make a lower high
2. Around $7300 - strong and historically worked levels!
3. Around $7500 - final target:
* Fibonacci pulled from 24.07-14.08
* Round number
* since 05.05
* Fibonacci extensions (entry point Fibonacci's)
* Round number and level are just SO identical!
Hopefully, this helps You out a little bit to confirm Your own analysis! DEFINITELY, make Your own research!!
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Thank You for your support!
Have a nice day!
Please, don't forget to LIKE ;)
....and yeah the like would be also good :D thank You!
Currently, we are at our first target point which is $7000:
"Targets (partial profit areas):
1. Around $7000 - If we don't find so much power to go higher then that's the place where we can make a lower high"
...and from now I try to keep You posted! If I see a sign that we may drop and if I see a signs that we may go higher!
Don't forget to hit the LIKE button and have a nice day!
I try to keep You posted!
“2. Around $7300 - strong and historically worked levels!”
Volume looks nice and the candles in the 4h chart are also promising! So, be ready to take out some partial profits in this price level!
All the best and have a nice weekend!
But last night you and EVERYONE on Tradingpuke missed the discovery of a HUGE bullish sign.. a diamond pattern... just before the big price drop.
I drew it about two hours before it broke out. Take a look.
(And I finally figured out HOW to add the MA lines, pain the ^%& and confusing the way Tradingview works these indicators)