The green long-term channel started to appear around mid of July of 2016 by price hitting the top of the channel!
During the Covid19 Pandemic we observed a fake breakout but everything gone normal after first months!
15th of Sep the price touch top of the channel and started to fall! the red bearish trendline is broken and we are currently in pullback to the...
This is not a forecast or a signal! it's just an example of an occasion which a pattern like Wolfe Waves worked well !
This chart has almost followed the rules of Wolfe waves , unless the first point is not exactly on the right place!
1st point: Start of the wave
2nd: First top of the channel
3rd: First low of the channel
4th: Second high of the channel...
Regarding the my modified moving average, I made 4 trading decisions on the pair which the 2nd one did not activated!
hopefully, all 3 of them were successful, and the last one by chance!
You can decide between these 2!
Open trade: 1.08468
Open Trade: 1.08715 (a bit higher then the line)
Technically, we are still in a Bullish trend!
However a powerful resistance area has obviously tested many times!
I believe It will break the resistance and goes higher but it's just a prediction!
If just like me, you bought the coin around 5$ hold it! if it breaks the trend line down sell it and if it breaks the resistance area then hold it to the next...
After returning the price to the level specified in blue, you can enter the sale deal!
In my previous two trades in this pair, the specified ratios of the Fibonacci retracement levels, which were selected due to the slope of the channel, had well defined the path of the pair and the range of the midline.
Based on these ratios, I have identified the first, second...