The 2020 flash crash low of 0.53 is nearing, so I'm beginning to accumulate a long-term position.
The reasons for this trade include the imminent approach of the flash crash low. You'll notice that the price is gradually declining towards this level.
Every time a new low is established, buyers enter the market and push prices back up, a clear sign that an upward breakout is likely as we approach 0.53.
The initial profit-taking target for this trade is at 0.55, which corresponds to the prior monthly lows we have surpassed, and it may function as a short-term resistance. We might see a slight pullback to 0.53 before rallying towards the long-term target of 0.59. This target is significant as it represents the monthly SUPPLY/SELL zone that instigated this downward movement.
I will be monitoring my TRFX indicator for signals across the 8-hour to daily timeframes. We could potentially see a small dip below the 0.53 low before a subsequent rise.
The reasons for this trade include the imminent approach of the flash crash low. You'll notice that the price is gradually declining towards this level.
Every time a new low is established, buyers enter the market and push prices back up, a clear sign that an upward breakout is likely as we approach 0.53.
The initial profit-taking target for this trade is at 0.55, which corresponds to the prior monthly lows we have surpassed, and it may function as a short-term resistance. We might see a slight pullback to 0.53 before rallying towards the long-term target of 0.59. This target is significant as it represents the monthly SUPPLY/SELL zone that instigated this downward movement.
I will be monitoring my TRFX indicator for signals across the 8-hour to daily timeframes. We could potentially see a small dip below the 0.53 low before a subsequent rise.
Giao dịch đang hoạt động
We got the drop to 0.53 and then a 12 Hour signal on the TRFX indicator allowing me to enter the trade :)Ghi chú
Position is starting to gain pace now expecting a short pull-back before the second leg rally towards the long term target of 0.59
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.