Seems like a double bottom is about to happen.
First of all as can be seen on 19 Dec there was a Bearish Divergence which push the market 50% higher. This time it is happening again.
In one hour chart we can see a small double bottom and a bearish divergence. Also in the big picture ( Daily chart ) it is clear that if this small double bottom happen it would initiate the big double bottom. So according to my risk reward ratio I think it can be a good investment.
The targets I mentions are according to Fib retracements.
The stoploss would be a good one under the red zone since the demand area finishes there and we can drop to the next level of demand which is around 2.8~3 $.
Wish you all a good trading day. ;)
First of all as can be seen on 19 Dec there was a Bearish Divergence which push the market 50% higher. This time it is happening again.
In one hour chart we can see a small double bottom and a bearish divergence. Also in the big picture ( Daily chart ) it is clear that if this small double bottom happen it would initiate the big double bottom. So according to my risk reward ratio I think it can be a good investment.
The targets I mentions are according to Fib retracements.
The stoploss would be a good one under the red zone since the demand area finishes there and we can drop to the next level of demand which is around 2.8~3 $.
Wish you all a good trading day. ;)
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Double bottom confirmed :)