ANT Aragon - Triple Bullish div + HL - possible trend reversal
Daily:
ANT is showing a triple bullish divergence on the daily. Then, after the tick up, a first higher low has formed.
The Stochastic RSI %D line is still decliing but decline starts to slow down. %K line is about to cross on the daily it seems, but the current daily candle is just half way.
The bullish divergence of price is against Elder Force Index, MACD-Histogram, but there is no ATR channel divergence.
The minus 1 ATR level has served as a support on the daily.
4H:
On the four hour chart, I see this set of tries to pinch through the 3.20 level which did not break, all candles closed above the 3.20 level. Only the wicks got through but no candle closed below it. Then we can see a final stab down, that resulted in a long downwick and the next candle opened higher and price only went up.
This could be the start of a new uptrend.
Entry: 3.25-3.30
Exit: 5.40-5.70
R/R ratio:1:7
Stoploss: 3.11
ANT is showing a triple bullish divergence on the daily. Then, after the tick up, a first higher low has formed.
The Stochastic RSI %D line is still decliing but decline starts to slow down. %K line is about to cross on the daily it seems, but the current daily candle is just half way.
The bullish divergence of price is against Elder Force Index, MACD-Histogram, but there is no ATR channel divergence.
The minus 1 ATR level has served as a support on the daily.
4H:
On the four hour chart, I see this set of tries to pinch through the 3.20 level which did not break, all candles closed above the 3.20 level. Only the wicks got through but no candle closed below it. Then we can see a final stab down, that resulted in a long downwick and the next candle opened higher and price only went up.
This could be the start of a new uptrend.
Entry: 3.25-3.30
Exit: 5.40-5.70
R/R ratio:1:7
Stoploss: 3.11
Comment:
Forgot to mention that the stoploss has been lowered to a lower value then the result of the latest stab down, which is around 2.95
This becomes tricky, I will not trade a lower volume coin again, the wicks go to deep beause there is not much money needed to bring the price down (and up) to pretty extreme levels.
do still believe in the setup though. Last try, but never again.