* DON'T BE AN IDiOT AND THiNK FOR YOURSELF!
* THiS iS NOT A FiNANCiAL ADVICE!
TRADE:: DOT_01_23012020
STATUS:: Placed
TYPE:: Long
PATTERN:: Consolidation ascending triangle
SIGNAL:: 4H MFI (Still to occur)
FILTER:: 1H OBV Delta, 4H OBV Delta + Prica Action
VOLUME:: $2000
ENTRY:: 18.640
TP1:: 20 (fix 5% here)
TP2:: 22 (fix 10% here)
TP3:: 24 (fix 10% here)
TP4:: 28 (fix 75% here)
SL:: 18.311
R/R:: 30
RISK:: $40
REWARD:: $500-$1000
PROS::
1. DOTUSD is still very bullish. It outperfomed other coins. Even if you bought at 5.XX level there is still a room for upwards pressure
2. 4H MFI signal has to occur soon, but with such bullish price movements we MUST to think ahead and place our trades before the indicators provide us a signal, because indicators are LAGGING BEHIND the price
3. We got nice Resistance line and a chart pattern to trade
4. Phoenix indicator show me a bullish sentiment short-term and mid-term
CONS::
1. It's better to have a few more 1H candles before the breakout so we will have a better shaped triangle pattern. Otherwise at the end of the day it might be not a trinagle at all and stop-loss will be false triggered by a higher low
2. We made almost 300% since previous pump, i do not think that current upward move can continue much longer. However what i am trying here is to get rid of ideas such as "cheap" and "overpriced" in terms of short-term trading. As a short-term trades i MUST only think about precise entry and exit points
3. We should not assume the the price action MUST go strong during period of upward pressure
4. We are still in controll under previous SELL Signal, so that's a dangerous deal
OVERALL::
* Bulltrend is likely to continue
* We have a nice Resistance line and price pattern for a breakout deal
* 4H MFI Signal might occur very soon, we place the breakout trade ahead of it
* THiS iS NOT A FiNANCiAL ADVICE!
TRADE:: DOT_01_23012020
STATUS:: Placed
TYPE:: Long
PATTERN:: Consolidation ascending triangle
SIGNAL:: 4H MFI (Still to occur)
FILTER:: 1H OBV Delta, 4H OBV Delta + Prica Action
VOLUME:: $2000
ENTRY:: 18.640
TP1:: 20 (fix 5% here)
TP2:: 22 (fix 10% here)
TP3:: 24 (fix 10% here)
TP4:: 28 (fix 75% here)
SL:: 18.311
R/R:: 30
RISK:: $40
REWARD:: $500-$1000
PROS::
1. DOTUSD is still very bullish. It outperfomed other coins. Even if you bought at 5.XX level there is still a room for upwards pressure
2. 4H MFI signal has to occur soon, but with such bullish price movements we MUST to think ahead and place our trades before the indicators provide us a signal, because indicators are LAGGING BEHIND the price
3. We got nice Resistance line and a chart pattern to trade
4. Phoenix indicator show me a bullish sentiment short-term and mid-term
CONS::
1. It's better to have a few more 1H candles before the breakout so we will have a better shaped triangle pattern. Otherwise at the end of the day it might be not a trinagle at all and stop-loss will be false triggered by a higher low
2. We made almost 300% since previous pump, i do not think that current upward move can continue much longer. However what i am trying here is to get rid of ideas such as "cheap" and "overpriced" in terms of short-term trading. As a short-term trades i MUST only think about precise entry and exit points
3. We should not assume the the price action MUST go strong during period of upward pressure
4. We are still in controll under previous SELL Signal, so that's a dangerous deal
OVERALL::
* Bulltrend is likely to continue
* We have a nice Resistance line and price pattern for a breakout deal
* 4H MFI Signal might occur very soon, we place the breakout trade ahead of it
👑 More signals in my Telegram channel: t.me/+Cab4_yk4oRFmOWI6
As i mentioned before that happens to be not a triangle