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On the daily time frame chart, the price action of XVG with the US Dollar pair has formed a bullish reversal Shark move and entered the potential reversal zone. There is also 100 SMA support below the buying zone.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the Shark pattern should be:
Potential reversal or buying zone: $0.0167 $0.0129
Fibonacci projection or sell zone: $0.0208 to $0.0291
Stop loss:
The maximum extent of the potential reversal zone to $0.0129 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a huge profit possibility of 125%, and the loss possibility is 23%.
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.
On the daily time frame chart, the price action of XVG with the US Dollar pair has formed a bullish reversal Shark move and entered the potential reversal zone. There is also 100 SMA support below the buying zone.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the Shark pattern should be:
Potential reversal or buying zone: $0.0167 $0.0129
Fibonacci projection or sell zone: $0.0208 to $0.0291
Stop loss:
The maximum extent of the potential reversal zone to $0.0129 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a huge profit possibility of 125%, and the loss possibility is 23%.
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.