Hi dear friends, hope you are well, and welcome to the new update on Diego Finance.
Previous BAT move:
Previously we were expecting that in a 12-hour chart after breaking down 20 exponential moving average the price action of DEGO will complete the BAT pattern . And even though the price action has broken down the EMA 20 on 12 hr chart, but after hitting this moving average the price action formed some bullish candlesticks .
Current Gartley pattern:
Due to this move now on a 12hour time frame chart, the price action has completed the Gartley pattern and entered the potential reversal zone.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the Gartley pattern should be:
Buy between: $17.73 to $13.11
Sell between: $21.35 to $30.08
Stop loss:
The maximum extent of potential reversal zone: $13.11 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of up to 129% and the loss possibility is 26%.
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
