WLDBTC Uptrend and Elliott Wave Clues
WLDBTC presently finds itself within a robust demand zone, which aligns with a prior supply area. Price action surrounding this support area continues to display consistent respect. As long as there isn't a clear daily breakdown below this demand region, the integrity of the uptrend remains intact.
An Elliott Wave analysis further hints at a potential Wave 5 to the upside. However, for this scenario to play out, it is essential that the price remains above Wave 2. Our stop loss has been strategically positioned at this crucial level, as a breach beneath Wave 2 could signify the completion of an ABC corrective pattern within the long-term downtrend.
In light of these factors, the risk-to-reward ratio for this trade appears to be highly favorable.
An Elliott Wave analysis further hints at a potential Wave 5 to the upside. However, for this scenario to play out, it is essential that the price remains above Wave 2. Our stop loss has been strategically positioned at this crucial level, as a breach beneath Wave 2 could signify the completion of an ABC corrective pattern within the long-term downtrend.
In light of these factors, the risk-to-reward ratio for this trade appears to be highly favorable.
Ordre annulé
Closing now at break even
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📱 Telegram: t.me/Tradensee
Publications connexes
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.