Hello fellow traders,
At and above entry we have a cluster of HTF resistances:
I would argue that this is a relatively low-risk trade because of the confluences at that level. Take a profit when the trade has been completed for 50% and move your stop-loss to entry.
Good luck and happy trading!
Kind regards,
n1d0
At and above entry we have a cluster of HTF resistances:
- Horizontal (Weekly)
- HTF Fib Fans (0.5)
- HTF Fib Retracement (0.328)
- Order Blocks
- VPFR from ATH (VAL)
I would argue that this is a relatively low-risk trade because of the confluences at that level. Take a profit when the trade has been completed for 50% and move your stop-loss to entry.
Good luck and happy trading!
Kind regards,
n1d0
Comment:
I forgot to mention another confluence: the 30k price level itself. It is an important psychological resistance.
Comment:
As if we didn't have enough confluence: above entry we also have the 0.236 Fib Retracement level from ATH.
Order cancelled:
Cancelled! But the idea is still valid. I will post this again if we are approaching the level.
