Price bounced from the support level 0.100000 and RSI confirmed price reversal. DMI shows trend market conditions and allows trading. It's long opportunity and we can buy above 0.120000 level with stop below 0.092000 level. Profit target for long trades should be near 0.150000 level.
I entered above 0.12, and now it's going down. What do you recommend in this situation - hold and wait?
TomasChen
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@Sasha.sochka, i entered at 0.125l.. but as he said "stop below 0.092000 level" and "the market probably will try to reach 400 level one more time"
DLavrov
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@TomasChen, we have to watch for price action near the uptrend line - it's red line on the chart. If the market bounces from this line, it will be good for buyers. If price breaks this line, we'll see down movement. If price falls lower 0.092000 it will be an additional confirmation for down movement.
TomasChen
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@DLavrov, thx for clarify, so if i understand correctly if there could form a "W" on the red line, we may have chance to up right ?
DLavrov
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@Sasha.sochka, there was a signal for possible up movement. Price bounced from the reversal level and we had confirmation for this. It was logical to buy. But now we can see that the main coind moves lower. It can tells us that we'll see down movement to the strong support levels. What should you do with you long trades? I closed the part of long trades for each market and wait for buying on better levels.