1INCH followed the market with a big sell off. initially having a fakeout to the upside of a near symmetrical triangle to then drop 30% below the bottom of it. Now forming 3 HLs on the hourly, the RSI is on the move upwards above the signal line. An entry on the retest of the signal line would allow for a 40% target to the tip of the symmetrical triangle which coincides with Januarys VWAP end price.
On a larger time frame, should the January VWAP flip into support, the next target would be the December VWAP, sitting at 2.81, which coincides with the 50% point of the July to September rally. the 0.618 fib level above this is 3.09, with the golden pocket at 5.20-5.49.
These targets face resistance levels on the way, but with the option of a tight stop loss of 3.5% below the first HL set a few days ago. This offers the potential for a very good risk-reward ratio.
Target 1 - 2.17
Risk/Reward = 10:1
Target 2 - 2.83
Risk/Reward = 20:1
Target 3 - 5.22
Risk/Reward = 60:1
On a larger time frame, should the January VWAP flip into support, the next target would be the December VWAP, sitting at 2.81, which coincides with the 50% point of the July to September rally. the 0.618 fib level above this is 3.09, with the golden pocket at 5.20-5.49.
These targets face resistance levels on the way, but with the option of a tight stop loss of 3.5% below the first HL set a few days ago. This offers the potential for a very good risk-reward ratio.
Target 1 - 2.17
Risk/Reward = 10:1
Target 2 - 2.83
Risk/Reward = 20:1
Target 3 - 5.22
Risk/Reward = 60:1
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.