You know the drill, edge to edge trade. Firstblood has entered into the 1 day cloud(using settings 20,60,120,30 adjusted for 24/7 crypto market compared to monday to friday stock market and then doubled to reduce noise from signals and give more reliable entry indications), Entry into the cloud is a signal for an edge to edge trade.
This is also a relatively high volume coin with volume being around 1000btc which is 50 times higher than some of the other altcoins with good entry criteria.
Other bullish signs are the cloud turning super thin, almost ready for a green kumo twist, lagging span seems ready to enter the cloud and is above price, and the tenkan and kijun look set for a bullish recross(Blue over red) All of this provides us with early bullish momentum indicators and we can set our stop loss quite near our entry with our targets very high above, providing for a a very good risk to reward ratio of 70:1 trade. Note the massive scale of the trade the graph is presented in a logarithmic format.
The first target will be the top of the cloud providing approx 150% gains
First target- top of cloud - 0.000210 satoshis(150%)
@InTheBellyOfCharonsWhale any update considering the current slump
Tankstar
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Great TA. Do you think a buy in at .000155 is still plausible?
Cheers
derpydyderp
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@Tankstar, That looks like it would be just above the previous local prce high which would be a good entry point, top of the cloud isnt too far from there and could be a potential resistance barrier(but will likely break through). We are getting a green twist on the cloud now which is a bullish sign in the future but there is plenty of room for it to oscillate between here and the rest of the cloud which can be unsettling if youre seeing 30% losses, all though i like to look at the longer term so that 20-30% price swing seem marginal compared to the long term goal. . You'll just have to decide your own stop loss, whether you want to leave it at below the cloud or move it up to closer to your entry.
Tankstar
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@InTheBellyOfCharonsWhale, thanks for the reply. I think I'll get in and set a 20% stop loss to allow some wiggle room. I don't mind waiting for a trade to materialise! No rush on my end.