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$RAY Tetra Move Loading 😉
The charts are very aggressive right now. Over the past 20 days, the RSI has been trading in the overbought zone, and consolidation in the 74–85 range pushed the price above 1. Now we're trading at 1.4...
This is a crazy situation for the next leg up; this level decides everything... We had support at 1.24, and the next is 1.1. The trend is bullish as long as it holds 1.05. The main thing is that the price is approaching resistance at 1.5 / 1.6. If it rejects here, it may push below 1.3. A possible consolidation could happen between 1.1 and 1.3 for the next leg up.
In case buyers are very strong at this moment and break 1.6, we may see $2 soon, even on this day itself...
My trading plan is simple:
Aggressive entry with a small fund at 1.35–1.4
Safe entry at 1.25–1.1
SL at 1.040
Targets: 1.45, 1.52, 1.6, 1.75, 2, 3 & 4
Yeah, $4 is my final target 😉
That's why I called it a Tetra move 😁
Let's see what happens. Remember, this is a swing trade, so it will take days to weeks to complete all targets or hit the SL.