This Coin Is Attempting A Reversal
The TRADE:
A tight stop loss trade looking for about 5 day holding at a ~ 10% target.
Get in sub 625 with stop loss of 610
If stop loss hits and you still seek to make the trade re-enter at 590 or 600.
Target 700.
DISCUSSION:
This coin seeks to be making a reversal as we can see on medium range daily chart:
The U shaped reversal pattern on the daily signals to us a potentiality of a continued upward channel movement within two potential domains:
(see image below)
1. the yellow channel region is the region of highest positive sentiment concerning bullish behavior.
2. the green channel region (top and bottom green lines) is the low grade positive sentiment concenring bullish behavior.
If we can see an increase in volume over the next 72 hours we will should see positive motion maintain within the yellow band. Elsewise we will extend sideways action within the green channel.
A trade opportunity is made on a weekly time frame as well with the apparent bottom forming.
What is required is that a volume increase emerge. The Coin has experianced massive clear out and the bag holders are present. No doubt they want to see their positions clear however the steep drop down leaves it likely that only the longest term holders have positive power to inject without high risk of loss. Thus... we require that the "small scale traders" can keep this positive momentum going, however that requires increased volume.
Keep an eye and go for this trade...
A tight stop loss trade looking for about 5 day holding at a ~ 10% target.
Get in sub 625 with stop loss of 610
If stop loss hits and you still seek to make the trade re-enter at 590 or 600.
Target 700.
DISCUSSION:
This coin seeks to be making a reversal as we can see on medium range daily chart:
The U shaped reversal pattern on the daily signals to us a potentiality of a continued upward channel movement within two potential domains:
(see image below)
1. the yellow channel region is the region of highest positive sentiment concerning bullish behavior.
2. the green channel region (top and bottom green lines) is the low grade positive sentiment concenring bullish behavior.
If we can see an increase in volume over the next 72 hours we will should see positive motion maintain within the yellow band. Elsewise we will extend sideways action within the green channel.
A trade opportunity is made on a weekly time frame as well with the apparent bottom forming.
What is required is that a volume increase emerge. The Coin has experianced massive clear out and the bag holders are present. No doubt they want to see their positions clear however the steep drop down leaves it likely that only the longest term holders have positive power to inject without high risk of loss. Thus... we require that the "small scale traders" can keep this positive momentum going, however that requires increased volume.
Keep an eye and go for this trade...
Aviso legal
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