Panjang
STORJ/BTC-Retrace and Extend - Text book example.
The price action for this pair is a 'text book' play. This tells me professionals are entering the market.
Price retraced to a 0.382 of the move swing and long term resistance that became support (role reversal).
Price met the trendline - then on the 4 hr made a COT (change of trend) to confirm a Bullish move = HIgher highs and Higher lows. That's the entry. Lovely!
The targets could be 127% up to 400%. Scale when you reach your target.
Price retraced to a 0.382 of the move swing and long term resistance that became support (role reversal).
Price met the trendline - then on the 4 hr made a COT (change of trend) to confirm a Bullish move = HIgher highs and Higher lows. That's the entry. Lovely!
The targets could be 127% up to 400%. Scale when you reach your target.
Nota
No so textbook - our trendline was broken however, I am seeing this pattern on many pairs where role reversal is tested several (3 times) before a bullish move. We have held support and I think now the Bulls will come to the party and take price up.
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.