Price action and chart pattern trading setup:
> A bullish dragon pattern with an uptrend ABC wave currently making a pullback to the rising channel support at the volume profile point of control
> The price is below key dynamic support SMA200 and SMA50 which is considered a downtrend movement or could just be a false break dump and pump
> Entry @ SMA50 and SMA200 breakout zone once the price recovered
> Stoploss @ B wave position -7% downside
> Target @ 1- 1.618 extension dragon head & shoulder zone
Always trade with affordable risk and respect your stoploss
> A bullish dragon pattern with an uptrend ABC wave currently making a pullback to the rising channel support at the volume profile point of control
> The price is below key dynamic support SMA200 and SMA50 which is considered a downtrend movement or could just be a false break dump and pump
> Entry @ SMA50 and SMA200 breakout zone once the price recovered
> Stoploss @ B wave position -7% downside
> Target @ 1- 1.618 extension dragon head & shoulder zone
Always trade with affordable risk and respect your stoploss
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.