Matic Swing Trade Idea

26 Haz

Swing trade idea.

Asset: Matic
Bias: Long

Confluences:
•Fibonacci golden pocket/.786

• Loss of the value area low (likely a bullish loss of VAL-commonly mistaken as a fake out/liquidity grab

•Formation confluence (descending channel @ 4hr broadening wedge [bullish])

•Market cipher confluence on lower hourly timeframes (anchor wave confirmed on the 1hr + 30m bullish divergences.) Daily bullish divergence with 2D bull divs printing.

Entry Details:
I’ll be looking to enter on multiple drives of 3m bull divs + 6m bull divs.

Entry Zone: .5490-.5295
Stop loss: .5280

TP1: .5527 (VAL/1:1)
TP2: .5712 (POC)
TP3: .5824 (VAH)
TP4: 5973
TP5: .6290
TP6: .6807 (pVAL)
TP7: .7244 (pPOC)
TP8: .7414 (pVAH)

Concerns:
Swing Failure Pattern (SFP) is a possible. I will consider entering on a sweep of the previous wick even after getting stopped out. As long as you are risking 1-3% the win will outweigh the loss tremendously over time.