Daily:
- Breakout from a very strong support zone (red zone), and now making correction in an ascending channel.
- I expect it to go to the Fibonacci level before making another downside impulse.
- MACD shows bullish momentum is strong.
**4H:
- Form higher high and higher lows in the key area (green zone).
- Approaching 200 EMA
- MACD shows bullish momentum is getting weaker.
**What to do now? When to sell?**
- Monitor the price action closely in the yellow box
- If the price goes up and retest, this selling setup would be amazing.
- If the price goes down now in respect with the 200 EMA with huge engulfing candlestick or in strong momentum, I would consider a selling opportunities too.
Don't forget to like if you like this analysis and comment below if you have different idea! Good luck to you, traders!
- Breakout from a very strong support zone (red zone), and now making correction in an ascending channel.
- I expect it to go to the Fibonacci level before making another downside impulse.
- MACD shows bullish momentum is strong.
**4H:
- Form higher high and higher lows in the key area (green zone).
- Approaching 200 EMA
- MACD shows bullish momentum is getting weaker.
**What to do now? When to sell?**
- Monitor the price action closely in the yellow box
- If the price goes up and retest, this selling setup would be amazing.
- If the price goes down now in respect with the 200 EMA with huge engulfing candlestick or in strong momentum, I would consider a selling opportunities too.
Don't forget to like if you like this analysis and comment below if you have different idea! Good luck to you, traders!
Trade closed: target reached