My previous setup was not activated when WOO was very closed to buy area but had reversed and risen 40% (see link below).
It's been correcting since then and the second buy opportunity is now, in my opinion.
Because WOO is very volatile, the proposed setup is recommended for Spot buy:
- Buy when WOO in the gray area.
- TPs are blue lines
- Invaliditation when 1D candle (or 4H depending on your style/risk management) close above the red line
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control
Comment:
I bought at this price and if needed when prices are at the Fib 0.618 ($0.3975)
Comment:
WOO has bounced with 15% up. SL is adjusted to 0.375
Comment:
Short-term view (4H): WOO is breaking the consolidation area
Trade closed manually:
The structure in higher time frame is not good for buy.
