Polytrade by Virtual - Bullish!!

Dec 31, 2024

Since ATH on 29th Nov, the price has been slowly retracing and forming shallow wide bowl over a month. The price went up to test Fib 0.236, retraced back to 0.618 and now ready to move back up. I really like the price to bounce up and down and up and down between key Fib level. MACD, RSI and RSI all crosses and pointing upwards in the bull territory. I am going to take some profit initially at 0.031 at Fib 1.618. I use Fib level and also look for clear negative divergence in 4H and/ordaily time frame to close the position or take a partial profit.

Jan 1

Trade active

The price is starting to consolidate between Fib 0.382 and 0.782. The price is also forming higher high. Momentum indicators are still in bull territory. I am waiting for the price to break above Fib 0.786 which often works as the last line of defence for bear.