Nice Short Term Buy @ .185
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Hi Traders,
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As you can see we've begun to correct yesterday's move. We have a bear flag setting up for a drop to the .185 level, there is also confluence with the trendline between the .786 and the .618. If you buy in, I would run a stop loss just below the .786 (maybe the .181 level). If we break down below the trendline, wait for a retest to close long positions. This is a short term trade, as I am more bearish than bullish here but, money is money so let's trade for profit and stack the chips baby! As for a target on the trade I think we'd retest the .191 area but with a manipulated market like we have here, you're best bet is to buy in at the bounce, set your stop loss and as the price moves up, move your stop loss up to a point where if you get liquidated, you will break even including fees.
This is not trading advice, I am not a financial adviser, do your own research!
If you found this analysis informational or amusing, the greatest compliment you could give is to leave a like and a comment, alright, let's get right to it...
As you can see we've begun to correct yesterday's move. We have a bear flag setting up for a drop to the .185 level, there is also confluence with the trendline between the .786 and the .618. If you buy in, I would run a stop loss just below the .786 (maybe the .181 level). If we break down below the trendline, wait for a retest to close long positions. This is a short term trade, as I am more bearish than bullish here but, money is money so let's trade for profit and stack the chips baby! As for a target on the trade I think we'd retest the .191 area but with a manipulated market like we have here, you're best bet is to buy in at the bounce, set your stop loss and as the price moves up, move your stop loss up to a point where if you get liquidated, you will break even including fees.
This is not trading advice, I am not a financial adviser, do your own research!
Ghi chú
Looks like we may be retesting the upper trendline around .1968. If we do and get rejected, we should move down to .185
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