Time for scalping
NFP is the first coin Binance uses with fair mode. Many people feel very disappointed as the price keeps dropping once it launches on Binance. On the other hand, it has a very beautiful structure, with the perfect 5 Elliot waves and a double bottom. It seems like it has already stopped dropping, and the 0.786 fib level is where it first started dropping very sharply. All indicators show that the bottom has been built and is valid at 0.56-0.6. The risk-reward ratio is quite high if we enter at 0.56-0.6 and sell at 0.83 for a scalping trade. Expecting a 30% + gain from 0.6 to 0.83
Note
for mid-term, we can expect there will be an extreme resistance at fib level 1.27 ($1.46-1.47)Note
New token carries a high risk. Keep in mind to set stop loss after breaking the support to avoid unnecessary losses
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.