NKN – Short Term Forecast Trading Ideas
NKN / TetherUS PERPETUAL CONTRACT BINANCE:NKNUSDT.P
I think NKN will hit the hourly supply area first and from there it will allow for the first short trade. Here I guess that a possible Butterfly harmonic formation will form the C point. Therefore, I suggest that the short position to be opened can be kept up to the demand region in the daily time frame, which also coincides with the D point of the harmonic. Afterwards, we can open a long trade from D point and determine the Fibonacci 0.5 and 0.618 values of the interval between CD as profit taking points. Of course, it is necessary not to open both short and long transactions without a stop.