TLDR:
• A successful break out a of a Falling Wedge Formation could lead to an 90% profit long trade.
Background:
• AGIX has been in a correction since February 8th, 2023. This correction is creating a Falling Wedge formation.
• Since my previous AGIX idea, AGIX corrected further and now it reached the 0.382 Fibonacci retracement.
• The target of a Falling Wedge is the measure from low to high of the wedge’s beginning.
• Considering that the AI narrative is the darling of investors at the stock market and crypto, I think AGIX could go much higher. However, let’s not count the chickens before they are hatched. A cool 90% profit is enough, for now.
My Trade Idea:
• Entry: 0.26 (approximate number, breakout of the wedge).
• SL: Daily candle below the resistance line.
• TP: 0.34, 0.46, 0.51. Leave a moon bag.
God willing, I will update you as AGIX makes further progress.
NFA.
What do you think? Please share in the comments.
Best wishes to all.