BUY/LONG ZONE (GREEN): $939.75 - $1,000.00 DO NOT TRADE/DNT ZONE (WHITE): $896.00 - $939.75 (can be extended for $875.00 - $939.75) SELL/SHORT ZONE (RED): $821.50 - $896.00 (can be shortened for $821.50 - $875.00)
Weekly: Bullish Daily: Bullish 4H: Bullish
I labeled the end of the most recent bearish trend and the start of the current bullish trend. OTC:LVMHF price has remained strongly bullish for weeks and is pushing towards the $1,000.00 level and all time highs. For those who like to trade patterns/shapes, zooming out can show a large V-shape pattern on the weekly timeframe. The DNT area goes for two levels as a safer bet and confirmation if price reverses. The DNT zone can be extended to be even safer down to the $875.00 level, which makes the bearish entries less risky. As shown, the bearish entry is aggressive, but not necessarily somewhere I'd look to initially enter any shorts.
This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas. ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
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Comment
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Price has dropped out of the bullish zone and is now testing the bottom of the DNT zone. Price structure is currently supporting a bearish trend but has not broken into the bearish zone.
Comment
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Price has broken into the bearish zone and retested the 892.50 bottom level of the zone before continuing down and is now testing the 875.00 level, which is the top level of the next zone.
Trade closed: target reached
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OTC:LVMHF has reached the bottom of the bearish zone at the 821.50 level.