This idea is based on Head and Shoulder pattern, the retest of the resistance level is a safe option of entry, protect your capital with a s/l, T/P marked by the green line which is a strong resistance level
Band Protocol is showing several bullish continuation signs after breaking out of that triangle and the descending TL.
We expect 50MA and 200MA to be retested before bouncing higher, let's not miss next dip!
Current Price= 5.8682
Buy Entry = 5.8161 - 5.6661
Take Profit= 6.1170 | 6.3439 | 6.7494
Stop Loss= 5.4393
Risk/Reward= 1:1.25 | 1:2 | 1:3.34
1. Timeline : 1H & 4H.
2. Indicator used : FIBONACCI & ICHIMOKU .
3. Forecast : Generally, price is pulling-back after strong downtrend. With this case, we can find and open SHORT entry at strong resistance by using FIBONACCI RETRACEMENT and ICHIMOKU . I used FIBONACCI 618 and KUMO CLOULD for identifying opening entry. I recommendations waiting...