I am playing the same Fib retracement & EMA cloud setup on all my picks this week. Trying out a new strategy.
AFRM retraced to the .618 and reacted beautifully. Double bottom at the .618 plus the wick on Friday's candle shows it is a valid level of support. This area has been prior resistance turned to support so that gives me additional reason to believe we will get a bounce. Blue EMA cloud is also acting as support at that level. If the .618 is breached and a candle on the 1HR closes below it I will exit the trade. Looking to ride this back to $150 be the end of the week.
AFRM retraced to the .618 and reacted beautifully. Double bottom at the .618 plus the wick on Friday's candle shows it is a valid level of support. This area has been prior resistance turned to support so that gives me additional reason to believe we will get a bounce. Blue EMA cloud is also acting as support at that level. If the .618 is breached and a candle on the 1HR closes below it I will exit the trade. Looking to ride this back to $150 be the end of the week.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.