EGLD Retesting Range Resistance
Updated
After a series of narrow spread and a shakeout, EGLD is back in range and retesting resistance with demand predominance in the volume. This often indicates a sign of strength (SoS), and if the resistance can be flipped to support, we can expect the resumption of upward price action. Take it up to the 1.272 to the 1.618% Fibonacci zones if this happens and limit out. Invalidate under TRS (the prior range support) if it fails the retest.
*Be sure to subscribe for more easy-to-follow charts with win ratios averaging between 80-85% in hitting the profit zones. I've been trading crypto fulltime since 2017 and handpick all the runners myself after conducting a series of careful volume-to-spread reads and Wyckoff schematic comparisons. Check out my past charts & see the win rates for yourself, then come join us!
**Not financial advice. Always DYOR and trade at your own risk.
*Be sure to subscribe for more easy-to-follow charts with win ratios averaging between 80-85% in hitting the profit zones. I've been trading crypto fulltime since 2017 and handpick all the runners myself after conducting a series of careful volume-to-spread reads and Wyckoff schematic comparisons. Check out my past charts & see the win rates for yourself, then come join us!
**Not financial advice. Always DYOR and trade at your own risk.
Trade closed: target reached
1.618% Fibonacci smashed. Right on the money. Good job!
Related publications
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.