Price action and chart pattern trading > The current price C-wave correction is moving within a falling flag > Potentially 4-wave uptrend targeting 0.5 retracement of 3-wave approaching / fakeout SMA200 day resistance zone. > Entry @ SMA200 breakdown > Target @ 0.5-0.618 Wave 3 extension zone -25% - 30%. > Stop @ 8% previous 1-wave correction zone Always trade...
Price action and chart pattern trading > Falling Channel pattern with target downtrend wave 5 within the range of 0650 - 1300 based on 1.236 - 1.618 wave 4 retracement > Long Entry @ local downtrend line breakout > Medium-term Target @ upper channel resistance near SMA200 zone / volume profile resistance zone > Indicator: MACD crossover signal line below the...
Price action and chart pattern trading setup > Falling Flag reversal pattern of local trend > Entry at breakout downtrend line > 1st target at previous high zone 0.786 - 1.0 retracement, a possible wave 1 leading diagonal > 2nd target at wave 3 - 1.618 - 2.0 zone for long term trade > Stop zone at the lowest position of last wave, RRR: 2.5:1 for medium term...