FTM.BTC (Y20.P3.E1).Macro structure.Key levels
Hi All,
I have been trading FTM of recent, only once so far due to the structure. It was an opportunity for a small trade.
When I did my review today at the bigger structure, it has passed one big hurdle and is likely to keep going up.
However it has many layers of resistances.
< Note: WR, WS, MR, MS are what I mark for weekly resistance and support as well as monthly resistance and support. These help find targets as well>
My thoughts:
> Major sloping trend line resistance has been passed and retested on the daily, so its held up. Using the Run and Bump strategy, its also fits into this structure and hence strategy.
> Hence, I see a potential price potentially bouncing off the 0.618 fib level as per the 4hrly chart, due to the volume profile having confluence with this fib.
However the 0.5 fib looks like its holding based on the current candle and its wick.
> I don't think it will be that volatile in this range.
How to trade it:
Not an easy one to call the entry but if the daily (current) candle closes above the 0.5 fib level (13 hrs to go) or higher then, its a bullish sign.
As per my chart, I'm looking at 0.5 and 0.618 fib level and the candle sticks on the 3, 6, 12 hrly time frames, to go long.
Please give me a like or tick for this effort,
Cheers,
S.Sari
4 HRLY chart.
Overview chart
I have been trading FTM of recent, only once so far due to the structure. It was an opportunity for a small trade.
When I did my review today at the bigger structure, it has passed one big hurdle and is likely to keep going up.
However it has many layers of resistances.
< Note: WR, WS, MR, MS are what I mark for weekly resistance and support as well as monthly resistance and support. These help find targets as well>
My thoughts:
> Major sloping trend line resistance has been passed and retested on the daily, so its held up. Using the Run and Bump strategy, its also fits into this structure and hence strategy.
> Hence, I see a potential price potentially bouncing off the 0.618 fib level as per the 4hrly chart, due to the volume profile having confluence with this fib.
However the 0.5 fib looks like its holding based on the current candle and its wick.
> I don't think it will be that volatile in this range.
How to trade it:
Not an easy one to call the entry but if the daily (current) candle closes above the 0.5 fib level (13 hrs to go) or higher then, its a bullish sign.
As per my chart, I'm looking at 0.5 and 0.618 fib level and the candle sticks on the 3, 6, 12 hrly time frames, to go long.
Please give me a like or tick for this effort,
Cheers,
S.Sari
4 HRLY chart.
Overview chart
Comment:
Comment:
Since I made a good entry and looking at the other alts doing 700%, I'm just going to go long on this one as well.
Comment:
Sometimes we get lucky if your on the system and watching.
Looking back, here was my entry.
Looking back, here was my entry.
Comment:
still looking strong. Obviously strong resistance area and most Alts are dropping so its one of those now is doing good.
Comment:
Trade closed: target reached:
2 out of 3 targets perfect. Last target, I should have known the wicks should be not included.
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
