๐ Market Analysis Update ๐
Yesterday, we believed the market had reached a potential turning point, only to see it extend further to complete a harmonic structure that might pave the way for another one.
โ ๏ธ The Question: While the market had signs of a possible reversal, will todayโs daily candle form an engulfing pattern, or are we looking at a small candle followed by a significant move tomorrow?
๐ก My Strategy: Iโll focus on Bonk and consider entering a position. The chart appears clearer, with an AB=CD harmonic pattern (equal daily legs). It closed with:
โ A hammer on the daily and 12-hour charts
โ A long-legged doji on the 8-hour chart yesterday
๐ These patterns signal a promising opportunity.
๐ Trade Setup:
Stop Loss: 0.026617
Take Profit: 0.048396 (Daily Resistance Level)
๐ Pro Tip: Always trade wisely and apply proper risk management.
โจ Good luck! โจ
# Bonk
