$XTZ TEZOS Bull Scenario.

25 ago 2021

Using a Fibonacci Extension tool to measure the first wave of the move or the "Impulse Wave" gives me these targets. This is a 1:3 trade setup and we are almost at the first TP or heavy resistance area. This was mainly published as a guide for taking profits in XXTZ along the way up by combining Fibonacci Extensions with Horizontal Resistance. The Fibonacci Extension tool can be very powerful if you can identify waves! One way to test and see if your correct on your measurement is if the 3rd wave is equal to the 1.618 or 2.618 extension. Let me know if you found this useful! If your in already then great! I started building my bag a little late around $3.50, but I'm happy with profits so far. This trade setup was done for a leveraged entry this morning during the dip.