On the small-time period 1 hour chart, the price action of Bella Protocol (BEL) is completing final leg of Shark and soon it will be reached in potential reversal zone.
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Buying And Sell Targets:
The buying and sell targets as per Fibonacci sequence of Shark formation can be as below:
Potential reversal or buying zone: $1.2332 to $1.2174
Fibonacci projection or sell zone: $1.2511 to $1.2872
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Stop Loss:
The potential reversal zone area that is up to $1.2174 can be used as stop loss in case of complete candlestick closes below this level.
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Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 5.7% and as per the above-mentioned stop loss, the loss possibility is 1.3 %.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
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