CRSR 18JAN21 1D TimeFrame
Wait for reversal around buy zone area. MACD and Stochastics shows bearish days ahead, however possible reversal around the buy zone area.
The buy zone area have 3 overlapping supports and can be interpreted as possible reversal zones. (1) Channel bottom support, (2) 33.77 previous swing low support , (3) 50ema area. Additionally the buy zone is around the 61.8% Fibonacci level.
A conservative target would be at 41.24 (61.8% fib and channel median), mid target and if price follows channel trend and happens to be 100% fib at 45.88, and high target 53.35 (less probability but not impossible)
Stop loss just below 50ema or below previous swing low
Disclaimer
I am not a registered investment advisor and do not offer investment advice and recommendation. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for, information and entrainment purposes only. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.
Wait for reversal around buy zone area. MACD and Stochastics shows bearish days ahead, however possible reversal around the buy zone area.
The buy zone area have 3 overlapping supports and can be interpreted as possible reversal zones. (1) Channel bottom support, (2) 33.77 previous swing low support , (3) 50ema area. Additionally the buy zone is around the 61.8% Fibonacci level.
A conservative target would be at 41.24 (61.8% fib and channel median), mid target and if price follows channel trend and happens to be 100% fib at 45.88, and high target 53.35 (less probability but not impossible)
Stop loss just below 50ema or below previous swing low
Disclaimer
I am not a registered investment advisor and do not offer investment advice and recommendation. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for, information and entrainment purposes only. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.