Price bounced perfectly at the fib cluster i linked in this post -
We have a couple scenarios here. There is a bearish pennant forming, but also a bullish Gartley pattern.
I like that buy zone around $6500 and my plan is to scale in at that price, if price action confirms the entry. If the pennant breaks to the downside hard, then I'll wait for next opportunity. Profit targets to take some of the pie are at least 50% higher. I do not plan on having a stop loss until price moves up at least 25%.
Lets see what happens.
We have a couple scenarios here. There is a bearish pennant forming, but also a bullish Gartley pattern.
I like that buy zone around $6500 and my plan is to scale in at that price, if price action confirms the entry. If the pennant breaks to the downside hard, then I'll wait for next opportunity. Profit targets to take some of the pie are at least 50% higher. I do not plan on having a stop loss until price moves up at least 25%.
Lets see what happens.
Order cancelled:
Trade idea has been invalidated with price moving above C leg