Hey traders, let's talk about this interesting pattern we're seeing on the 12-hour chart! 馃
It looks like a complex wave formation is taking shape, where wave C might be wrapping up within this red zone. If that's the case, we could be looking at a potential drop in the Bollinger Bands (BB).
So, here's the plan:
* Sell/Short Opportunity: We're eyeing sell/short positions within this red zone.
* Potential Target: The green zone could be our target area.
* Invalidation Level: If a daily candle closes above this invalidation level, our analysis might be off, so keep an eye on that.
Risk Management is Key!
Remember, always prioritize risk management with stop losses and proper capital allocation.
Let's Discuss!
If you have any questions or want to chat about this setup, feel free to drop a comment below!
Let's make some trades!
Additional Tips:
* You can use a combination of technical indicators like RSI or MACD to confirm the trade setup.
* Consider using limit orders to get a better entry price.
* Always practice proper position sizing and risk management.
Remember, this is just an analysis and not financial advice. Do your own research and trade responsibly.
Let's make some profits together! 馃殌馃殌