RLC formed BAT move for up to 27% rally
Hi patrons, hope you are well and welcome to the new update on iExec RLC token.
On a small time period 4-hr chart, the price action of the RLC has completed the final leg of bullish BAT and spiked in the potential reversal zone. It may give us another chance to catch from the buying zone before starting the bullish rally.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the BAT pattern should be:
Potential reversal or buying zone: $2.0006 to $1.9248
Fibonacci projection or sell zone: $2.1816 to $2.4536
Stop loss:
The maximum extent of the potential reversal zone to $$1.9248 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has profit possibility of 27% and the loss possibility is only 4%
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with the trade
On a small time period 4-hr chart, the price action of the RLC has completed the final leg of bullish BAT and spiked in the potential reversal zone. It may give us another chance to catch from the buying zone before starting the bullish rally.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the BAT pattern should be:
Potential reversal or buying zone: $2.0006 to $1.9248
Fibonacci projection or sell zone: $2.1816 to $2.4536
Stop loss:
The maximum extent of the potential reversal zone to $$1.9248 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has profit possibility of 27% and the loss possibility is only 4%
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with the trade
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