After a +600% run, GOATSE has gone through a -63% correction and formed a well defined Bull Flag. I'm seeing this as a game of Fair Value Gaps(FVG). There is more gaps to be filled downside so my guess is that first we'll visit some of these levels briefly before heading to the test the upside gaps.
The price has already tested the upper FVG once, and failed, so now we're looking for the buy-side liquidity from one of these FVG 1-4 areas. I'm looking for a strong impulsive candle close to the upside(12h) and preferably MACD cross acompanied by a green dot in Cipher B indicator as an indication of trend change. Notably, the MACD might be forming bullish divergence indicating bullish momentum if confirmed. Of course, its challenging to pinpoint the exact bottom, so we can use these FVG areas to DCA or wait for the break of struckture. To break the Bull Flag formation the price has to take out the first upper FVG for further higher prices.
The price has already tested the upper FVG once, and failed, so now we're looking for the buy-side liquidity from one of these FVG 1-4 areas. I'm looking for a strong impulsive candle close to the upside(12h) and preferably MACD cross acompanied by a green dot in Cipher B indicator as an indication of trend change. Notably, the MACD might be forming bullish divergence indicating bullish momentum if confirmed. Of course, its challenging to pinpoint the exact bottom, so we can use these FVG areas to DCA or wait for the break of struckture. To break the Bull Flag formation the price has to take out the first upper FVG for further higher prices.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.