1. Downtrend line of 11 months is broken
- Price gapped up, and sustained above Fib 38.2% and 50%.
- This concludes the end of bear trap and the switch from bear to bull trend.
2. In the last month, weak selling pressure is noticed.
- Rounding bottom above previous 1D resistance at $171.50
- Closes are creeping near to Fib 61.8%
- Flipping to bullish stance
3. Entry points
EP 1 - buy spot with 1 or 0.5 size
EP 2 - Enter another 1 or 0.5 size if closing prices stay above Fib 50% at $164.8
- Price gapped up, and sustained above Fib 38.2% and 50%.
- This concludes the end of bear trap and the switch from bear to bull trend.
2. In the last month, weak selling pressure is noticed.
- Rounding bottom above previous 1D resistance at $171.50
- Closes are creeping near to Fib 61.8%
- Flipping to bullish stance
3. Entry points
EP 1 - buy spot with 1 or 0.5 size
EP 2 - Enter another 1 or 0.5 size if closing prices stay above Fib 50% at $164.8
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.