Flash Crash Low In Sight Time To Buy ??

The 2020 flash crash low of 0.53 is nearing, so I'm beginning to accumulate a long-term position.

The reasons for this trade include the imminent approach of the flash crash low. You'll notice that the price is gradually declining towards this level.

Every time a new low is established, buyers enter the market and push prices back up, a clear sign that an upward breakout is likely as we approach 0.53.

The initial profit-taking target for this trade is at 0.55, which corresponds to the prior monthly lows we have surpassed, and it may function as a short-term resistance. We might see a slight pullback to 0.53 before rallying towards the long-term target of 0.59. This target is significant as it represents the monthly SUPPLY/SELL zone that instigated this downward movement.

I will be monitoring my TRFX indicator for signals across the 8-hour to daily timeframes. We could potentially see a small dip below the 0.53 low before a subsequent rise.

Trade active:

We got the drop to 0.53 and then a 12 Hour signal on the TRFX indicator allowing me to enter the trade :)

Comment:

Position is starting to gain pace now expecting a short pull-back before the second leg rally towards the long term target of 0.59