#RLCBTC iExec RLC forming a Bullish harmonic gartley #RLC

#RLCBTC 1H has formed a Harmonic pattern & currently in a ascending triangle.
Bullish Gartley pattern in works around 50fib retracement of the move from 11.7ksats-32.4ksats which also lies around the 61.8-78.6fib level of the recent spike from 20ksats-32.4ksats.

Currently price is nearing a ascending triangle breakout.

We should wait for confirmation i.e break of the triangle trendline resistance at 25ksats to enter the trade with
sl-24ksats , Risk-4%, Risk:Reward- 3.7
Target1-26.4k sats
Target2-28.7k sats

Trail sl to breakeven as Target 1 is achieved for a risk free trade for target 2.

https://www.tradingview.com/chart/2jHyamBl/#

Kommentera:

#rlcbtc #iExec Trade is live with +3.32% profit now!! after #rlc broke out of the ascending triangle as per target levels for #harmonic bullish gartley pattern. SL can now be set at entry price-25ksats to proceed for Targets as risk free trade. #cryptocurrency #cryptotrading

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T1 achieved, & T2 missed by 0.5ksat. Since then it has been consolidating. Now we r seeing some action again #rlcbtc
#rlc breaking out of the wedge & starting another wave sequence.
New targets, if we break above 25.5ksats.

Wave 1 was till 25.5k sats
Wave 2 a 50fib retrace
Now, If we get break above 25.5k sats then,
Wave 3 Target: 27.8-27.9k sats
Wave 4 retrace till 38.2fib
Wave 5 Target: 29.5-30k sats.