Hey dear patrons, hope you are well, and welcome to the new update on Verasity (VRA). On the weekly time frame chart, the price action has formed a big bullish BAT pattern. There is also a 50 simple moving average support in the buying zone.
Buy and sell targets: Buy between: $0.0123 to $0.0067
Sell between: $0.0255 to $0.0454
Stop loss: The maximum extent of potential reversal zone $0.0067 can be used as stop loss.
Possible profit and loss ratio: As per the above targets, this trade has a huge profit possibility of 577%, and the a big loss possibility is 46%. However, in order to minimize the risk we can use the 50 SMA weekly as a stop loss.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Hello! Great analysis, why pull the fib from mid february instead of early 2021 where it looked like the rally began? Was it a pullback on a smaller timeframe?