We posted about short setup but we also wanted to post about our long setup on BNF.
If the wedge pattern fails and breakout happen above 200 EMA we can see some upside move for coming days. Price range of A and the distance between the Fibonacci 38.2% level on hourly charts from breakout of pattern is exactly same so we believe that could be the first target and if BNF sustains near the level we can set Fibonacci 50% on Hourly chart as our second target as mentioned in the chart.
Trade at your own risk. Trade safe.
If the wedge pattern fails and breakout happen above 200 EMA we can see some upside move for coming days. Price range of A and the distance between the Fibonacci 38.2% level on hourly charts from breakout of pattern is exactly same so we believe that could be the first target and if BNF sustains near the level we can set Fibonacci 50% on Hourly chart as our second target as mentioned in the chart.
Trade at your own risk. Trade safe.