An intraday high potential, Back Tested Long Analysis.
We ll try to find an entry price within the expected pull back zone 62.84 - 62.00 as previously being back tested. We ll try to enter into the correction of the downtrend movement tracking trend oscillators as below:
CCI diverges the price crossing down the zero level as well as shown in the chart. A butterfly pattern occurs confirming the correction. The end of ABC corrections signaling the uptrend movements. Supporting levels meet close to 60.00$ psychological point.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
Nice. I don't know stocks but seems to me the old wave count is different(doesn't matter anyway). I don't know what I'm doing here... :) just an experiment the new wave, posting here to not forget about it... As you know I don't really got in touch with stocks market :-(
WealthMurphy
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@WealthMurphy, :( just noticed the indicators were set for crypto... damn
TradingStatistics
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@WealthMurphy, It seems to me similar...
What i d like to say actually, is that volatility is quite different between the two sectors. Hence, although the techniques are the same, results may vary.