REQETH 1D Binance – falling wedge, wave analysis
Atualizado
REQ is currently forming a falling wedge and is closing to long term trendline at around the 0.236 support level of a previous bullish swing back in December. Start of a wave 3 (blue arrow) of a potential broad wave III. (red arrow) may develop in case trendline holds.
With a wave 3 target of approx. 0.00074-0.00080 zone it provides a good RR as even with setting SL under 0.00026 well below broken trendline and just below double-bottom low in the broad wave II this leads to approx. a 3.8 ratio. Attractive.
Some fib. Levels –
0.5 of wave I. is approx. overlapping with 0.618 of wave II. This can be a target for wave 3.
Wave 1 stopped at 0.382 of wave I.
Price currently at the 0.236 level of wave I.
RSI is 47 (could be stronger) and volume would need to improve.
I have been already long with 2.5 ETH at 0.000385 and am holding.
These are my personal views. Please do your own research, trade carefully and with money you can afford to lose! Thank you for the follows and likes – I am grateful! Happy Trading!
With a wave 3 target of approx. 0.00074-0.00080 zone it provides a good RR as even with setting SL under 0.00026 well below broken trendline and just below double-bottom low in the broad wave II this leads to approx. a 3.8 ratio. Attractive.
Some fib. Levels –
0.5 of wave I. is approx. overlapping with 0.618 of wave II. This can be a target for wave 3.
Wave 1 stopped at 0.382 of wave I.
Price currently at the 0.236 level of wave I.
RSI is 47 (could be stronger) and volume would need to improve.
I have been already long with 2.5 ETH at 0.000385 and am holding.
These are my personal views. Please do your own research, trade carefully and with money you can afford to lose! Thank you for the follows and likes – I am grateful! Happy Trading!
Trade ativo
Trade fechado: stop atingido
Aviso legal
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