Potential Bullflag for Elrond EGLD to 264$

EGLD is printing a Bull Flag right now,
the question is ... is it a fakeout? We have to keep in mind that Bulls are still in control on the daily, Weekly, Monthly etc...
Potential targets of this bullflag is 263-264$ and can push to 271$.. even 277$. Let's see how this play out.

To breakout we need to go over all those resistances
-4 hour chart MA21 at 176.75$
-6 hour chart MA21 at 176.80$
-12 hour chart MA9 at 177.566$.
-2 hour chart MA50 at 179.89$
-0.236 fibonnaci at 176.553$

Keep in mind that this bull flag can turn in a triangle, if you want to try the swing.. get in after a confirmation over 180-181$... let them go over first.. and buy the retest of 180$ 177$. Always play with good Risk Management... Another way to play it is to wait the confirmation over the last ATH at 217$, after 217$ will be confirmed new support your good to 264$ (more than 20% gain).

One thing to note is that.. if we don't go lower short term and want to go directly in W5... 272.367$ is the 261.8% fib...
which would match with the destination of this bullflag.

Best to you my friends. Let me know what you think and what you see.

Kommentar:

We are now over the 4hr and daily VWAP.

Kommentar:

Daily Vwap and 4hours VWAP are now support

Kommentar:

Trade ist aktiv:

EGLD has formed 2 options, 1 Rising Channel and 1 Falling channel. Will be a compression at the intersection, it can go up or down.

Kommentar:

Trade ist aktiv:

Possible W2 targets

Kommentar:

Shooting Star on the Weekly.. bearish Candle.. must watch for confirmations on the down side.