Entry and exit points for Long positions
1. Entry point 1 (on pullback): $148.37 (0.5 Fibonacci level)
o Potential Exit: $198.22, $220.88
o Stop Loss: $135.10 (below 0.705 Fibonacci level)
o Chance of success: 70%
o Reason: Strong Fibonacci support level and horizontal volume. If the price reaches this level and holds, a rebound is likely.
2. Entry point 2 (deep pullback): $140.60 (0.62 Fibonacci level)
o Potential Exit: $198.22, $220.88
o Stop Loss: $129.60 (below 0.79 Fibonacci level)
o Chance of success: 65%
o Reason: The 0.62 Fibonacci level often serves as significant support. It also coincides with horizontal volumes, creating additional support.
3. Entry point 3 (on consolidation): $180.74 (Fibonacci level 0)
o Potential Exit: $220.88, $245.48
o Stop loss: $168.68
o Chance of success: 60%
o Reason: Entry on breakout of key level, which indicates the possibility of continued growth.
Entry and exit points for Short positions
1. Entry point 1 (at resistance): $198.22 (-0.27 Fibonacci level)
o Potential Exit: $148.37, $140.60
o Stop Loss: $220.88 (Fibonacci level -0.62)
o Chance of success: 65%
o Reason: The -0.27 Fibonacci level coincides with resistance zones that could cause a price pullback.
2. Entry point 2 (high risk, at local maximum): $220.88 (-0.62 Fibonacci level)
o Potential Exit: $148.37, $140.60
o Stop Loss: $245.48 (Fibonacci -1 level)
o Chance of success: 55%
o Reason: This is a strong resistance level, and when reached, the price may go into correction if it does not consolidate higher.
3. Entry point 3 (deep level): $245.48 (Fibonacci level -1)
o Potential Exit: $180.74, $140.60
o Stop loss: $260.00
o Chance of success: 50%
o Reason: Entry at the top after a strong growth with the possibility of a correction to lower levels.
Conclusion
• Long scenario: high probability of working out at support levels (65-70%) with lower risk at deep correction levels.
• Short scenario: probability of correction at strong resistance levels (50-65%), especially when approaching high levels, where the price may begin to roll back.
