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On the daily time period chart, the price action of the Dash is completing the final leg of bullish BAT and soon it will be entered in potential reversal zone. After breaking down the 50 simple moving average support the pattern will be confirmed. We also have strong support of 100 SMA below the PRZ buying zone.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the BAT pattern should be:
Potential reversal or buying zone: $100.88 to $93.54
Fibonacci projection or sell zone: $118.35 to $144.89
Stop loss:
The maximum extent of potential reversal zone $$93.54 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has profit possibility of 54.5% and the loss possibility is only 7.5%
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
On the daily time period chart, the price action of the Dash is completing the final leg of bullish BAT and soon it will be entered in potential reversal zone. After breaking down the 50 simple moving average support the pattern will be confirmed. We also have strong support of 100 SMA below the PRZ buying zone.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the BAT pattern should be:
Potential reversal or buying zone: $100.88 to $93.54
Fibonacci projection or sell zone: $118.35 to $144.89
Stop loss:
The maximum extent of potential reversal zone $$93.54 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has profit possibility of 54.5% and the loss possibility is only 7.5%
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
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