Cloack having spent a long period in a tight range has started to catch the eye. Its been banging up a against a resistance Trendline for some time and on the daily bar yesterday closed above the line for the first time with todays bar having already retested and bounced long. So on the daily it has Advanced through the kevel, pulled Back to it, and then Advanced in the original direction. It’s the classic on the and has me looking hard for a Long entry on the Shorter Time Frame.
On the Hourly chart it has been putting in lovely Higher Highs and Higher Lows, with last high extremely . It has just pulled back and towards the 20 (Blue line) and recent Horizontal level 0.00105 and I am going to pre-empt the move and buy at current levels.
Because the entry is so aggressive I am going to use a stop loss off 0.00101.
Targets are The first bar to close above my entry bar, close a small amount of your trade.
Other Targets are just before my blue dotted lines
0.00125 Target 1
0.00134 Target 2
0.00145 Target 3
Price is moving quite strong already you can open positions.
0.001754 Target 1
0.001985 Target 2
0.002381 Target 3
This could break some very nice targets depending on timeframe of their listing.'
I believe info is on their twitter
I hope you have banked profits each time.
Volume is still rising and we are sitting on a support, we may see another run and be aiming for targets again.
Also keeping in mind the fundamental news on their binance listing.
If I see another entry point I will be taking it and update you.
I expect we will see a retrace now and then continue up.