BPP | Wave Analysis | Bullish Divergence Uptrend Target +25%
Price action and chart pattern trading setup:
> ABC correction - main downtrend channel breakout in TFW and bullish Anti Nenstar pattern - possible a major trend reversal pivot point
> Indicator: MACD / RSI bullish divergence - strong reversal signal in TFW
> Entry @ Breakout retest zone SMA50 - 20
> Target @ TP1 17.2 + 15% Inverted Head & Shoulders Target / TP2 18.7 + 25% - Falling Wedge Target - 0.618 Fibonacci retracement and volume profile POC
> Stop @ Inverted head position -7%
> Risk reward ratio: 2:1, 3:1
Always trade with affordable risk and respect your stoploss - nothing 100%
> ABC correction - main downtrend channel breakout in TFW and bullish Anti Nenstar pattern - possible a major trend reversal pivot point
> Indicator: MACD / RSI bullish divergence - strong reversal signal in TFW
> Entry @ Breakout retest zone SMA50 - 20
> Target @ TP1 17.2 + 15% Inverted Head & Shoulders Target / TP2 18.7 + 25% - Falling Wedge Target - 0.618 Fibonacci retracement and volume profile POC
> Stop @ Inverted head position -7%
> Risk reward ratio: 2:1, 3:1
Always trade with affordable risk and respect your stoploss - nothing 100%
Trade closed: target reached:
TP1 reached take profit!