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without_worries
Sep 15, 2022 6:48 PM

Compound (COMP) - Ridiculous move soon Long

FTX:COMPUSDT1W
Compound Token / USD TetherFTX

Description

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On the above 1-week chart price action has corrected 95% since May 2021. A number of reasons now exist to be bullish, including:

1) A strong buy signal prints (not shown). If you want to see, just ask.

2) Price action, RSI and MFI resistance breakouts.

3) Regular bullish divergence.

4) Everything that was said above is also true for the BTC pair.

5) Price action prints the higher low on the golden pocket following point #2. Look left!

Is it possible price action falls further? Sure.

Is it probable? No.

Ww

Type: trade
Risk: <=6% of portfolio
Timeframe: Don’t know.
Return: $800 / 1400%
Stop loss: None

Comment

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Do you see the 2-day DOJI candle printing on the 2-day/50-day SMA?? Closes today.

Trade active

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Did you see the candle that has printed on the two week chart? Fantastic.

What does this candle mean?
youtube.com/watch?v=H3ZBDIsF0is


Comment

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This is a 2-day chart. The two moving averages shown (on separate time frames) saw a crazy jump in price action once they crossed. A particular give away is the curved bottom.

Let's come back to this place in 90 days to see if history repeated itself.

Trade active

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Did you see what printed on the 3-day chart?

What happened just at the beginning of this month has not happened since January 7-10th, 2021. Price action roared up 450% after that.
Support and ResistanceFibonacciMultiple Time Frame Analysis
Comments
pipis97
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I was watching COMP for an entry, thanks for the post, i'll eventually dca in the last few months of this year. Fundamentally wise i Like LQTY, what you think of it's chart? Debating if it's early to buy in or not, your thoughts would be helpful:)
SwallowPremium
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Clean chart with great description, thank you for sharing!!)
RLinda
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good analysis. Thanks
vf_investment
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good charting skills
without_worries
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@vf_investment, thank you
Yaser65
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Totally agreed
What is your idea about GAS?
without_worries
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@Yaser65, PM'd the chart to you cause I can't share it here.
NaMoTa
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@without_worries, I want to know it too :D
without_worries
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@Mohssin1986, PM'd you.
iMpactFuze
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Can you show me the example of how a sting buy signal is printing in this chart? Still a noob here and just trying to educate myself more.
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