Rationale: -This is a very simple trade idea. LUNA is correcting after its recent increase in price and it has just tapped the 100 EMA and 0.382 fib level. Both of these levels are typically strong levels of support. The long wick indicates it was bought up quickly and tells us the price may bounce upwards. -You can play this trade a few ways: either ladder your entry positions down at the fib levels (ie 0.5, 0.618 etc) and be flexible with your stop loss, OR, buy right now and use a tight trail stop. -It is entirely possible that price dips lower and touches other fib levels, however this is a good opportunity to play a bounce in this zone and make quick profits.
Your risk, your reward. This is not financial advice. Happy trading.