No financial advice. DYOR. I was watching BCH for a while now. It looks to me, that we have a 100% up opportunity with a target at $880.
• retraced from last high to 0.382 FIB level
• 0.382 FIB was previous resistance
• bounced up from previous resistance, so it flipped resistance to support
• no daily close below previous resistance
• trading slightly above EMA 50
Two potential trades:
a) Safe trade
Open: prices close above 430
SL: price close below 370
RR: 7.5
b) Gamble trade
Open: now
SL: price close below 370
RR: 16
Targets: 470/540/630/880 ish.
• retraced from last high to 0.382 FIB level
• 0.382 FIB was previous resistance
• bounced up from previous resistance, so it flipped resistance to support
• no daily close below previous resistance
• trading slightly above EMA 50
Two potential trades:
a) Safe trade
Open: prices close above 430
SL: price close below 370
RR: 7.5
b) Gamble trade
Open: now
SL: price close below 370
RR: 16
Targets: 470/540/630/880 ish.
Trade attivo:
I decided for the gamble version. Opened at 403.
Commento:
Target 1 reached.
Commento:
Target 2 reached. ✅
Commento:
Target 3 reached. ✅