Take profit here? What do you think it will drop to?
marshyyy
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@MajinJoe, Yeah, The red square is an area of daily supply from a previous point of interest (POI) which forms the basis of an order block, this is based on supply and demand methodology and smart money concepts. I am expecting a reaction to this zone or within it and sell side pressure to appear. My take profit is located just below and is a leveraged swing trade. if your invested in MATIC then a longer term hold would be advised. This is more of a swing trade and i would'nt sell your hold bags at this profit level. I expect it to keep going with bullish momentum to the upside as the daily candles and MACD look healthy for a sustained uptrend. The next important fib is the 1.272 around $2.08