Hi guys, I have another setup for you $MEITUAN-W(03690)$
On the H4, price is moving above the ichimoku indicator and along the ascending trendline which gives me a bullish bias that price will rise to buy entry at 212.0 where the swing high resistance and 78.6% fibonacci retracement are. Once there is upside confirmation, I would expect bullish momentum to carry price to take profit at 242.8 in line with swing high resistance and 100% fibonacci projection. Alternatively, price could drop to stop loss at 178.0 where the pullback support and 38.2% fibonacci retracement are.
Entry: 212.0 [Smile]
Take Profit: 242.8 [Miser]
Stop Loss:178.0 [Cry]
$Meituan 5xShortSG220216(DZXW.SI)$
$Meituan 5xLongSG220808(DMGW.SI)$
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