Not a lot to say about this at the moment. There are fundamental influences at work which have forced a break out of the symmetrical triangle to the up side. Standard target on this pattern is a measured move from the first bottom touch of the pattern to the top resistance line. A conservative take profit level would be at #1, where we see an extension of the lower support trend line off the first top touch of the pattern. A more aggressive profit target would be at #2, which is the typical termination level for such a trade. The green horizontal line on the chart represents my average entry.
Trade active:
We're now two days out from the launch of the updated NEO network and Target #1 has been hit on this trade. If you wee trading two targets, this is where you would look to take some profit or move up stops. Below is some information I pulled from www.cryptoninjas.net regarding the rebranding from Antshares to NEO and the network upgrade. Fingers crossed for target #2!
"The NEO team confirmed that its social media and source code has been renamed, with exchanges to follow. The company’s new website design is finalized, which will go live on August 8th alongside the NEO 2.0 launch. The NEO team also noted that its power to manage the name switches on exchanges is limited but is in progress.
The following is the upgrade process for NEO network 2.0
1. NEO will first need to upgrade all non-consensus nodes. Exchanges, blockchain explorers, and other services are required to upgrade to NEO 2.0 before August 8th.
2. Regular users can, but are not required to, update to the new client before August 8th.
3. On the day of August 8th, NEO will upgrade all consensus nodes to NEO 2.0.
4. After all consensus nodes are updated, users who have not updated to the new client will be prompted to do so when starting the old Antshares 1.x client.
5. It is the same blockchain, so users can copy the “Chain” folder from the old AntSharesCore into the new NEO 2.0 client folder to speed up the blockchain syncing.
6. If a user has NEO/ANS, NeoGas/ANC in an exchange, then they don’t need to do anything."
"The NEO team confirmed that its social media and source code has been renamed, with exchanges to follow. The company’s new website design is finalized, which will go live on August 8th alongside the NEO 2.0 launch. The NEO team also noted that its power to manage the name switches on exchanges is limited but is in progress.
The following is the upgrade process for NEO network 2.0
1. NEO will first need to upgrade all non-consensus nodes. Exchanges, blockchain explorers, and other services are required to upgrade to NEO 2.0 before August 8th.
2. Regular users can, but are not required to, update to the new client before August 8th.
3. On the day of August 8th, NEO will upgrade all consensus nodes to NEO 2.0.
4. After all consensus nodes are updated, users who have not updated to the new client will be prompted to do so when starting the old Antshares 1.x client.
5. It is the same blockchain, so users can copy the “Chain” folder from the old AntSharesCore into the new NEO 2.0 client folder to speed up the blockchain syncing.
6. If a user has NEO/ANS, NeoGas/ANC in an exchange, then they don’t need to do anything."
Comment:
This trade has hit target... you wouldn't know it because since the re-branding all the chart data is fucked. All the same, cheers!
Comment:
boom bip
Trade closed: target reached: