On the above 6-day chart price action has corrected 97% since August 2021. A number of reasons now exist to be long, including:
1) Price action and RSI resistance breakouts.
2) Stochastic RSI resistance breakout.
3) Regular bullish divergence as measured over the last 2-3 months.
4) Falling wedge breakout + support. 100% upside target projected.
Is it possible price action corrects some more? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6%
Long timeframe: This month
Return: 100% in the 1st instance
1) Price action and RSI resistance breakouts.
2) Stochastic RSI resistance breakout.
3) Regular bullish divergence as measured over the last 2-3 months.
4) Falling wedge breakout + support. 100% upside target projected.
Is it possible price action corrects some more? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6%
Long timeframe: This month
Return: 100% in the 1st instance
Dagangan aktif
Nota
Long from $3 when re-tested for support.Nota
40% so farDagangan aktif
Nota
60% so far, not long until 1st resistance..Dagangan ditutup: sasaran tercapai
125%Nota
Had more than a few messages "Price is still going up and you said the target is reached!" Many emotions.Price action is now up 200% or thereabouts. 75% more than the target and climbing. Here's the rub, the majority of traders out there make the link:
Target = market top / bottom
If you do that, I can safely say you'll leave this bull market will less gains and more frustration. Targets are not a strategy. When you replace Probability with Targets you change your mindset set from Abundance to Scarcity. What a terrible place to be. Every target is a goal, deterministic.
Markets are not governed by determinism, that are controlled by emotions. That makes them probabilistic.
If you want to maximise your gains, learn probability and let others worry about the possibilities.
Nota
Past resistance (old target) confirms support.Dagangan aktif
About to print to $30.Pesanan dibatalkan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.