Thoughts on BYD?
Hey everyone, its me again! Back with another setup $BYD COMPANY (01211.HK)$
On the H4, with prices moving above the ichimoku indicator and RSI moving along the ascending trendline, I have a bullish bias that price will rise to buy entry at 324.6 where the pullback resistance is. Once there is upside confirmation, I would expect bullish momentum to carry price to take profit at 359.6 in line with 127.2% fibonacci extension, 100% fibonacci projection and 61.8% fibonacci projection.
Alternatively, price could drop to stop loss at 296.0 where the pullback support and 23.6% fibonacci retracement are.
Buy Entry: 324.6![]()
Take Profit: 359.6![]()
Stop Loss: 296.0![]()
$BYD 5xLongSG230202 (DLCW.SG)$
$BYD 5xShortSG230202 (DZWW.SG)$
On the H4, with prices moving above the ichimoku indicator and RSI moving along the ascending trendline, I have a bullish bias that price will rise to buy entry at 324.6 where the pullback resistance is. Once there is upside confirmation, I would expect bullish momentum to carry price to take profit at 359.6 in line with 127.2% fibonacci extension, 100% fibonacci projection and 61.8% fibonacci projection.
Alternatively, price could drop to stop loss at 296.0 where the pullback support and 23.6% fibonacci retracement are.
Buy Entry: 324.6
Take Profit: 359.6
Stop Loss: 296.0
$BYD 5xLongSG230202 (DLCW.SG)$
$BYD 5xShortSG230202 (DZWW.SG)$
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