-16 Week double bottom measured move met -12 day pennant with horizontal boundary forming -On H6, pennant can be defined as a continuation ascending triangle and meets the minimum lower boundary two touch requirement to classify a continuation ascending triangle -18 day and 50 day MA pinching and providing support at current price -Existing non margin holdings with entry and stop denoted on chart -Two areas for potential targets; 2.4945 for ascending triangle interpretation 2.9713 for pennant interpretation
30 basis points of risk planned
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Orders below, I like the bollinger band squeeze on the H4
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Order update
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Looking strong and in spite of a lot of red, still some sell walls to push through though
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Was filled
Trade closed: stop reached
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Then stopped out, all while I was at work. Crypto is crazy!
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Still constructive on this coin
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New orders
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Ammendment; 2 tranches, this will be my last attempt at getting long this setup
Trade active
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Order executed @ 2.1866
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Looking good so far, will see once euro and us session comes online. TPs no change SL on non margin position is at entry, Trend follow strategy T1 stops will be managed on a daily timeframe, position strategy T2 stops will be managed on H6 timeframe, Swing strategy
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1st tranche stop @ Last Day low being 2.0846 2nd tranche stop @ entry price
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Strong daily close amongst a lot of crypto weakness, within striking distance of first target
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Well that sucks, Out of my position and swing tranches with the swing target being met without me. Still holding my trend follow position