ATOM.BTC(Y20.P3.E2).Breakout from Macro structure

Hi All,

~~~ a continuation from the previous post, link below ~~~

Another one I have had my eyes on but with all the things that were happening, I missed the bottom but how many trades can you take?
Having said that, I missed out because I had others on the go and in some cases better trade setup.

Having said that, today's list is shorter and this one stands out for going long.

Observations:
================================================================
> On the daily, indicators are bullish (eg MACD where the macd line and signal are wide).
> The macro structure is a of Descending (top declining, bottom flat or bottom rising and with a breakout (reversal structure)
> 12 HRLY looks good with the indicators and candle sticks
> 30 minutes we had 2 touches to retest the resistance line (chart below) which was the inverted barr target

How to trade this?
> wait for consolation below the current resistance line and look for a bullish candle on the 4 hrly or 8 hrly
> refer to my 30 min chart with the 21/34 ema

30 min. chart > we had 2 touches to retest on the resistance line

Please give me a like or tick for this post.

Regards,
S.Sari


8 HLRY chart with clearer overview

DAILY chart > macd and WT indicators crossed over for bullish turn

4 HRLY chart, looking for another retouch and hence place your orders there

PREVIOUS POST

Comment:

I made a slight oversight. I havn't seen the sloping trend retested and hence its likely this slope will be retested before the next leg up.
Again, using the 8 hrly for a bullish candle at this point.

Comment:

Still looking positive

Comment:

slow progress but its doing fine

Trade active:

It looks like a strong resistance on the weekly candle stick area.
I have flipped some days ago to BTC and when this level is broken, I will jump back in.

Trade closed: target reached:

Updated my chart, not much change and the level as to why its stuck, its not that obvious.

Comment:

chart adjusted with targets etc and lesson learnt