On the daily chart, the price action of the Axie Infinity (AXS) token is completing the last leg of bullish Cypher and soon it will be entered in potential reversal zone.
Buying And Sell Targets:
The buying and sell targets as per the Fibonacci sequence of Cypher pattern should be:
Potential reversal or buying zone: $0.3889 to $0.2618
Fibonacci projection or sell zone: $0.4880 to $0.7303
Stop Loss:
The potential reversal zone area that is up to $0.2618 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of 178%, and the loss possibility is 33%.
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.
Buying And Sell Targets:
The buying and sell targets as per the Fibonacci sequence of Cypher pattern should be:
Potential reversal or buying zone: $0.3889 to $0.2618
Fibonacci projection or sell zone: $0.4880 to $0.7303
Stop Loss:
The potential reversal zone area that is up to $0.2618 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of 178%, and the loss possibility is 33%.
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.
