Technical analysis by Trading-King-02 about Symbol NOT: Sell recommendation (7/10/2024)

Hello, everyone I'm considering taking a short position on NOTUSDT (a hypothetical cryptocurrency pair) based on the 2-hour chart with Elliott Wave analysis. Here’s my detailed plan: - Entry Point: I plan to enter a short position at the current price level of approximately 0.01611. This level is identified after the completion of wave (b) and at the beginning of wave (c). - Targets: - First Target: My initial target is set at the 1.000 Fibonacci extension level of wave (c), which is around 0.01496. - Second Target: If the price shows strong momentum and breaks through the first target, I'll aim for the 1.618 Fibonacci extension level at approximately 0.01359. - Stop Loss: To manage my risk, I'll place a stop loss just above the recent high of wave (b) at around 0.01717. 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