We are in favour of a long position considering some interesting observations:
- It's one of the few pairs that have managed to stay above the 100EMA lately
- Positive divergence between and Price on 240m
- Currently trading around and honoring 50% Fibonacci level (We didn't plot it just to cut down on the clutter)
- The horizontal range plotted on the chart itself is ~25% and that makes a great setup in our view
We'll definitely buy the (Marked Green) and sell 1 (and hopefully zone 2 as well).
This trade will be going live for Ritoku followers. Levels on the chart!