I write what I see. Nothing less and nothing more.
Fibonacci tool is great, you can take any high and any low and you will get some lines. But if it is that simple everyone would do it right? And may be a lot of traders have mastered it already, Did I master it yet? sorry no, still learning. I am throwing my idea when I see there is an opportunity.
Monthly in Red which is my favorite, most of the time it works. Then weekly in Blue and short term in Pink
It's clear that the price has bounced from 61.8% retracement of the entire 2021. Ideally what I want is to be in the middle of 50% and 61.8% for a bounce but in this case that did not happen, the price has breached 61.8%, so ideally this should have gone to 78.6% but nothing goes straight down or up. We are at the 50% monthly resistance. So take this opportunity to sell any bounce and then there is a weekly 61.8% resistance. There will be enough opportunity to get in and get out. Stop loss can be at 1.85.
My attempt is to resist FOMO based on technical analysis and these are my opinions. do your DD and good luck.
Fibonacci tool is great, you can take any high and any low and you will get some lines. But if it is that simple everyone would do it right? And may be a lot of traders have mastered it already, Did I master it yet? sorry no, still learning. I am throwing my idea when I see there is an opportunity.
Monthly in Red which is my favorite, most of the time it works. Then weekly in Blue and short term in Pink
It's clear that the price has bounced from 61.8% retracement of the entire 2021. Ideally what I want is to be in the middle of 50% and 61.8% for a bounce but in this case that did not happen, the price has breached 61.8%, so ideally this should have gone to 78.6% but nothing goes straight down or up. We are at the 50% monthly resistance. So take this opportunity to sell any bounce and then there is a weekly 61.8% resistance. There will be enough opportunity to get in and get out. Stop loss can be at 1.85.
My attempt is to resist FOMO based on technical analysis and these are my opinions. do your DD and good luck.
Comment:
partial profit can be taken, wait for any bounce to sell again and stop loss is now at 50% retracement in Red arund 1.58 to 1.6
Comment:
are we there yet?
RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight st
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight st