Hi traders hope you are good, In my previous post of Theta token we have seen that on dailyt chart the Theta formed bullish Gartley pattern and as per prediction the priceline took a powerful bullish divergence from buying zone and produced more than 117% profit.
Formation of bullish Shark pattern: This time on short term 6 hour chart the Theta token is forming a harmonic bullish Shark pattern and soon it will be entered in potential reversal zone.
Buying And Sell Targets: The buying and sell targets according to harmonic Shark pattern and its Fibonacci sequence should be:
Buy between: $0.2148 to $0.1440
Sell between: $0.2955 to $0.4559
Stop Loss: The potential reversal zone area that is up to $0.1440 can be used as stop loss in case of complete candle stick opens and closes below this level.
Possible profit and loss ratio: As per above targets this trade has the profit possibility of 216% and as per above mentioned stop loss, the loss possibility is 33%
Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
@Crypto_Masters,dear if you are going for 216% profit then you should be ready to take the risk of 33%, in trading if you are going for higher profits then risk will be higher as well, however I have mentioned the buying and sell targets as per text book fibonacci sequence of shark move it cannot be changed, thanks