Lets see how confluence works:
EOSUSDT trend is bearish on D and 12H. On 4H we are having some kind of bounce or consolidation bear flag. We know this channel is going to broke downwards, at least the market in general push bulls and invalidate TA. If nothing extraordinary happens, this is going to be a continuation pattern.
I see two possibilities:
1.- Channel breaks now, after testing 0.382. Bulls can't break 21EMA and PA goes fast to green area (S/R + FIBONACCI LEVEL). Over there, is where we want to close our short trade.
2.- PA test higher level of the channel and fibo, where meets 144EMA (12H chart, accurate in this case), previous Support level with high VOLUME, and roof of bear flag. Wow!, this is beautiful. This is where i've rather entering a short position and take profits on green rectangle.
Both short trades are possible, trade 2 is TAwise speaking: GORGEUS. Lets see what happens.
EOSUSDT trend is bearish on D and 12H. On 4H we are having some kind of bounce or consolidation bear flag. We know this channel is going to broke downwards, at least the market in general push bulls and invalidate TA. If nothing extraordinary happens, this is going to be a continuation pattern.
I see two possibilities:
1.- Channel breaks now, after testing 0.382. Bulls can't break 21EMA and PA goes fast to green area (S/R + FIBONACCI LEVEL). Over there, is where we want to close our short trade.
2.- PA test higher level of the channel and fibo, where meets 144EMA (12H chart, accurate in this case), previous Support level with high VOLUME, and roof of bear flag. Wow!, this is beautiful. This is where i've rather entering a short position and take profits on green rectangle.
Both short trades are possible, trade 2 is TAwise speaking: GORGEUS. Lets see what happens.
Trade closed: target reached:
Our trade number 1 went perfectly, with 7-8% profit reaching our target.
Our gorgeus trade number 2 never happened, we knew the set up was better but more difficult.
Nice profit! Not advice, just my journey!
Our trade number 1 went perfectly, with 7-8% profit reaching our target.
Our gorgeus trade number 2 never happened, we knew the set up was better but more difficult.
Nice profit! Not advice, just my journey!