Hey traders!
The price did bounce off from SMA100 level (orange line), uptrend line and managed to breach through of resistance level which are indicating that the price wants to push higher. This will be a shorter term trade and I'm expecting it to have healthy pullback at some point. Now I'm waiting until the daily candle closes above of 0.382 fib level which would indicate that bulls are wanting to push it higher. If it gets rejected from this point, then I'll wait patiently for another opportunity to occur. If you didn't know that if the price cannot pass 0.382 fib level it leads to another downtrend (in this case it's going to be minor).
If this breaks down I'd watch support on MA50 on the 4h timeframe and MA20 on the 720 for possible reversals.
Need any help with trading or have questions related to my trading setups? Feel free to send me a message via tradingview or DM me at Twitter! I'm more than glad to help you!
Things to Remember:
- Stop-loss orders are strongly recommended.
- Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
- Do your homework before investing.
DISCLAIMER:
Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
The price did bounce off from SMA100 level (orange line), uptrend line and managed to breach through of resistance level which are indicating that the price wants to push higher. This will be a shorter term trade and I'm expecting it to have healthy pullback at some point. Now I'm waiting until the daily candle closes above of 0.382 fib level which would indicate that bulls are wanting to push it higher. If it gets rejected from this point, then I'll wait patiently for another opportunity to occur. If you didn't know that if the price cannot pass 0.382 fib level it leads to another downtrend (in this case it's going to be minor).
If this breaks down I'd watch support on MA50 on the 4h timeframe and MA20 on the 720 for possible reversals.
Need any help with trading or have questions related to my trading setups? Feel free to send me a message via tradingview or DM me at Twitter! I'm more than glad to help you!
Things to Remember:
- Stop-loss orders are strongly recommended.
- Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
- Do your homework before investing.
DISCLAIMER:
Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
