just hit that target a few hrs ago.. if you traded it on that analysis you were taken in .. no draw down and should be up in pips.. put it to break even now and see if it goes! -- looks like it may be a good one ;)
RadVladdy
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Half out when broke down, redeployed that at your entry. Had entry below current level, hopefully can milk some more out of this one. Thx for idea.
RadVladdy
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p.s. this thing is not too liquid. will not be trading it after exiting this trade. You trade any crypto?
docholliday
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moved stop too early.. on the 'paper trade' on this one - taken out for break even.. still looks corrective so do not think will break the low shown here.. should have kept below 100 until a good move up out of trendline.. if retests may paper trade it again .. still looks good..
lets see how it goes..
docholliday
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based on wave theory your up move may either begin now (in which case I would wait for breakout of my orange trendline) -- or it may crawl down to the weekly pivot and based on R:R - if i traded this pair I would place an entry order at the 786 /pivot and TP around the 0.0269 - not sure the the "long" shows on the copied chart. Lets see how it goes!
RadVladdy
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Correction: 50 period on the 4 hour chart.. So I guess that's the 200 hour MA??
docholliday
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not sure, I no longer use MA - I dont trade this, but happen to see your chart - happy trading - TV is nice to share ideas and see how others see setups etc. will be fun to watch it. may your account stay green :)
docholliday
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simple wave analysis on the daily and 240.. there is only one weekly impulse to upside - it was corrected and now daily uptrend is heading toward the weekly top. All signs point to possible one more wave up - however on the 240 we are correcting a down side impulse and may be making similar move to previous (ellipse) - watch for retrace upside to the 50/618 fib retrace for c wave to downside. I gave up all but one indicator once going with wave theory.. much simpler for me.. happy trading.. we will see how high it moves up on the 240..
RadVladdy
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Thx. I would be out on breakdown of said MA line, with this strategy.