LONG on STEEM/BTC, SOLID 8:1 risk reward ratio
This chart looks really good to me, hopefully we can catch an entry at 0.00064125, if we do, we could see potential jump and solid exit points. Ichimoku cloud acts as a strong support, and also this line was tested previously and had a strong buy support and a quick rejection whenever it was passed. Stop loss has been set just in case, because I think trend wont recover if it goes 10% below the support line.
The way we exit according to the chart is to see if we pass Exit1 and based on RSI and MACD we make conclusion that momentum is still moving us up, if we for instance hit Exit2, and have a strong pullback towards Exit1, we should get out of our position. Ideally, we will reach Exit3.
The way we exit according to the chart is to see if we pass Exit1 and based on RSI and MACD we make conclusion that momentum is still moving us up, if we for instance hit Exit2, and have a strong pullback towards Exit1, we should get out of our position. Ideally, we will reach Exit3.
We are getting fairly close to entry