MATICUSD - looking for potential price movement
N Wave with E, V, N & NT projection and entry & exit strategy setup.
The price has recently broken above the Kumo signaling a potential bullish trend.
The Chikou Span is above the price, further confirming bullish momentum.
Immediate resistance: NT level at 2.54.
Support levels:
Entry 1: Fibonacci 0.5 level at 2.32.
Entry 2: Fibonacci 0.382 level at 2.21.
Stop-loss: Fibonacci 0.114 level at 1.97, which aligns with a prior swing low.
Kijun-sen and Tenkan-sen provide dynamic support.
The Senkou Span A and B (Kumo edges) indicate an upward trend after a bullish breakout.
Monitor the NT level (2.54). A breakout above it with volume confirmation could accelerate the price toward the first target (N at 3.13).
Consolidation near NT without a breakdown may offer a better risk-to-reward ratio for entering long positions.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
The price has recently broken above the Kumo signaling a potential bullish trend.
The Chikou Span is above the price, further confirming bullish momentum.
Immediate resistance: NT level at 2.54.
Support levels:
Entry 1: Fibonacci 0.5 level at 2.32.
Entry 2: Fibonacci 0.382 level at 2.21.
Stop-loss: Fibonacci 0.114 level at 1.97, which aligns with a prior swing low.
Kijun-sen and Tenkan-sen provide dynamic support.
The Senkou Span A and B (Kumo edges) indicate an upward trend after a bullish breakout.
Monitor the NT level (2.54). A breakout above it with volume confirmation could accelerate the price toward the first target (N at 3.13).
Consolidation near NT without a breakdown may offer a better risk-to-reward ratio for entering long positions.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
Trade closed: target reached
Reached target (V)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.