$Q 👈 Open the real chart from here, the bottom tag is not the same chart
🔴 Short - sell 0.048921, stop level 0.051821, take profit 0.043121 (1:2)
Retrace of 23%, then price went back up for the old high. The inducement at 0.043121 is still untouched. Price pushed 4.2% above the old high at 0.048644, printed a new high at 0.050676 and gave it back. It is trading just above 0.048644 now. In at 0.048921, out at 0.051821 if I'm wrong, 0.043121 if the inducement gets taken. That works out to 1:2. Top gainers move fast both ways, so the stop is not optional.
🔴 Short - sell 0.048921, stop level 0.051821, take profit 0.043121 (1:2)
Retrace of 23%, then price went back up for the old high. The inducement at 0.043121 is still untouched. Price pushed 4.2% above the old high at 0.048644, printed a new high at 0.050676 and gave it back. It is trading just above 0.048644 now. In at 0.048921, out at 0.051821 if I'm wrong, 0.043121 if the inducement gets taken. That works out to 1:2. Top gainers move fast both ways, so the stop is not optional.