Confluence long trade:
High quality trade of EGLDUSDT in about to occur in an area of confluence between 150-155$ price level.
Following TA tools confluence in that specific price range for the daily TF:
1. Support zone (grey rectangle box)
2. Fibonacci retracement levels of 50 and 61.8
3. Trend line of the main bullish trend (in yellow)
4. 21 EMA in daily TF.
Each confluence factor increases the quality of the trade since each one of them attracts different schools of traders. Therefore also probability of a wining trade increases. (still probability, there is no certainty)
good luck!
OZ
High quality trade of EGLDUSDT in about to occur in an area of confluence between 150-155$ price level.
Following TA tools confluence in that specific price range for the daily TF:
1. Support zone (grey rectangle box)
2. Fibonacci retracement levels of 50 and 61.8
3. Trend line of the main bullish trend (in yellow)
4. 21 EMA in daily TF.
Each confluence factor increases the quality of the trade since each one of them attracts different schools of traders. Therefore also probability of a wining trade increases. (still probability, there is no certainty)
good luck!
OZ
Comment:
this trade setup is inherently depending on BTC price action since EGLD is an altcoin and altcoins are heavily positively correlated with BTC price.
Trade active:
this is a good level to enter a trade and start accumulating
Trade active:
you can start taking some profits as we approach our first big resistance level which is 195$. if we distinctively breakthrough you can always enter again for a new ATH.
Trade active:
what a high-quality trade this has been :))
if the price can hold above 200$ and make a 4H candle close or better a daily close, then the chances of going to new all-time highs will increase significantly (we will go anyways but if this happens more buyers will step in confidently and we reach there much faster)
let me know what you think about this trade.
if the price can hold above 200$ and make a 4H candle close or better a daily close, then the chances of going to new all-time highs will increase significantly (we will go anyways but if this happens more buyers will step in confidently and we reach there much faster)
let me know what you think about this trade.