I like this setup regardless of the outcome a great setup trade megaphone pattern, if you're into patterns with DXY facing resistance the strength of CRYPTOCAP:BTC is upside imo.
Oil taping at $58.75 per barrel is the liquidity high where volumes of bears are expecting to get in, surely wont miss my order, price has already shown decrease in bullish momentum , great confirmation of a daily close below $58.25, so we get ready for that short. risk- 1% to gaind a reward of 4.64%, definetly a good trade. lets see it play out nice.
The Weekly Chart of MU favors a bounce upwards. Your stop loss would be just below 45, and a profit target near 60. You risk about 3 dollars a share for a reward of 15 dollars a share. That's a 5 to 1 risk to reward which is outstanding. The next support level down is in the 38-40 dollar level, so if you get stopped out, the 38-40 level would be the next area...
Nice setup that possibly no one is watching. If a shift to commodities-metals happen, we could see a nice RR trade here.
Watchlist, we could see a nice setup here with good RR if this develops accordingly.
Good RR short entry. Small % risk, stope above recent weekly high.
This is a follow up to the previous post since it didn't share both charts... I wanted to add this chart in as well. This one also shows the the area at the top of the chart that wasn't really tested yet...
This time we moved to 4h chart as on the lower TFs is the 'fork' a little bit messy. Both 'forks' are showing a downtrend, so that's exactly why I am looking for short around the parallels drawn on the picture. I believe the red and blue parallels were broken only and still waiting for next retesting. It should be my entry, confirmed on lower TFs, with good...