Timeframe: 60M
Main Scenario: The rate could drop further if it will make a valid breakdown below the 50% Fibonacci line of the ascending pitchfork and outside the minor ascending pitchfork's body.
Alternative Scenario: A failure to reach the lower median line (lml) and the 50% line it could invalidate a further drop.
Entry/Stop Loss/ Take Profit: It is very important for the rate to make a valid breakdown below the lower median line (lml) and below the 50% Fibonacci line and to reach the ML again to be able to resume the downside movement. Maybe we'll have a selling opportunity from 82.902, the Stop Loss can be placed above the 85.395 high and the Take Profit somewhere at the 77.141 level.
Duration: Maybe 3-5 days (less than a week)
Warning Levels: A valid breakout above the 85.395 and above the sliding line (sl) it could signal a further increase.
Risk Management: Risk/Reward Ratio: 2.21; 6.95% potential profit and 3.14% potentia
Main Scenario: The rate could drop further if it will make a valid breakdown below the 50% Fibonacci line of the ascending pitchfork and outside the minor ascending pitchfork's body.
Alternative Scenario: A failure to reach the lower median line (lml) and the 50% line it could invalidate a further drop.
Entry/Stop Loss/ Take Profit: It is very important for the rate to make a valid breakdown below the lower median line (lml) and below the 50% Fibonacci line and to reach the ML again to be able to resume the downside movement. Maybe we'll have a selling opportunity from 82.902, the Stop Loss can be placed above the 85.395 high and the Take Profit somewhere at the 77.141 level.
Duration: Maybe 3-5 days (less than a week)
Warning Levels: A valid breakout above the 85.395 and above the sliding line (sl) it could signal a further increase.
Risk Management: Risk/Reward Ratio: 2.21; 6.95% potential profit and 3.14% potentia