Previously I have posted chart where the price action of NCASH formed bullish Butterfly. And at that time the price action was moving above the potential reversal zone of this harmonic pattern. And at that time I was expecting soon it will enter in PRZ level to give us buying signal. And eventually it entered in potential reversal zone and moved up for more than 57% profit.
Another harmonic move:
Now this time on 2 day chart the price action of NCASH has formed another bullish harmonic pattern and this time it is again bullish Butterfl. And this is another awesome opportunity to earn more profit. This time the profit probability is up to 100%.
Let's dig this pattern deeper to see how perfectly this pattern is driven:
The first leg was started from 25 Jan to 14th Feb 2020 and after that the next A to B leg is retraced between 0.618 to 0.786 Fibonacci levels, then B to C leg is moved up to the Fibonacci projection level between 0.382 to 0. 886 Fibonacci and that is the Fibonacci projection of A to B leg. Then C to D leg is retraced between 1.27 up to 1.618 Fibonacci levels and now the formation of bullish butterfly is completed here.
At this time the priceline is entered in the buying zone and we can place our buying orders in this area.
Buying And Sell Targets:
The buying and sell targets according to harmonic Butterfly pattern should be:
Buy between: 0.00000006 to 0.00000005 sats
Sell between: 0.00000007 to 0.00000010 sats
The potential reversal zone area which is up to 0.00000005 sats can be used as stop loss in case of complete candle sticks closes below this level.
This idea is for short and midterm traders not a long term idea, I will be keep posting more trading ideas.
Note: This idea is education purpose only and not intended to be investment advise, please seek a duly licensed professional and do you own research before any investment.