On daily chart, the price action of Chainlink (LINK) has completed bullish Gartley pattern, now it has entered in the potential reversal zone. There are also 100 simple moving average support in the potential reversal zone.
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Buying And Sell Targets:
The buying and sell targets according to harmonic Gartley pattern should be:
Potential reversal or buying zone: $12.4824 to $11.4132
Fibonacci projection or sell zone: $13.3258 to $15.3716
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Stop Loss:
The potential reversal zone area that is up to $11.4132 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 34.5% and as per the above-mentioned stop loss, the loss possibility is 9%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
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