My strategy for a potential bullish move by Kusama (KSM) back to previous swing highs (and beyond?)
I'm personally looking for a swing failure at 'D' of the bullish butterfly harmonic for a potential reversal. Take some Profits between POC and 0.618, bring your stop loss into profits somewhere below the daily level. After a succesful retest of the daily level, my next target is going to be between the 1.618 and the previous swing highs, where I will take most of my profits (75%) - I put my stop loss into even higher profits and let the remaining 25% do what it has to do.
KSMBTC and KSMETH looking bullish too as we are reaching important supportareas.
Thanks for checking out my strat. I would really appreciate some feedback and constructive critisism. :)
(of course no financial advice and do your own research)
Komen
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I need to add that the red line at 'D' is a important trendline that should give additional support in this area. if you scroll out to november you will see that we touched the trendline several times - first as resistance and later as support!
Komen
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I also just realized that I kinda f*d up the take profit areas that I drew in the chart. The first TP should be extended for to least 2-3 days. The second TP should be - as I wrote my description - between the previous swing highs at around 535$ up to the 1.618 at around 580$.
Komen
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I hit my target. now its all about being patient and check what BTC is doing. if BTC doesn't hold the POC at around 38,5k to 38,8k I'm gonna close the trade at the next retest of the golden pocket and buy back later at the weekly support.
I also just realized that I kinda f*d up the take profit areas that I drew in the chart. The first TP should be extended for to least 2-3 days. The second TP should be - as I wrote my description - between the previous swing highs at around 535$ up to the 1.618 at around 580$.
jakapan
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What’s boundary of the gold pocket?
marrrtin_
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@jakapan I drew it from the lows of the second dump (200$) to the latest swing highs (540$)