Trend : Current Trend is Downtrend Bias and Below EMA of 20 & EMA10
Support & resistance : 1.9000 area is a strong Resistance , only if the price break above to move on to bull bias. the strong support below is at 1.3000 area.
Trade Idea : On 27th , Price pump up to 1.85 area but failed to break up ,and Created a Head and shoulder Formation at H1 chart , entry 1.6700 took when saw the H&S , SL set 1.8500 just above the H&S . When the trend is down with H&S one 1 hour Chart , with strong resistance at 1.9000 area.
Fibonacci Retracement : from the last down move 2.11 to 1.29 , the retracement of 0.618 at 1.7181 and 0.618 at 1.8175.
Risk & Reward Ratio : Entry at 1.6709 Risk is 10.72% 1.85 and reward is 22.20% , TP at 1.30. RRR : is at 2.07
The Upside : If the price move 1.500, and start to pump up higher than 1.67 , the I will close the trade , to manage the risk. will open new long trade if break higher than 1.9 resistance.
The Downside : will find another entry point to double my position , if break below 1.50
Practicing my own analysis , and my own trading journal . don't follow
Support & resistance : 1.9000 area is a strong Resistance , only if the price break above to move on to bull bias. the strong support below is at 1.3000 area.
Trade Idea : On 27th , Price pump up to 1.85 area but failed to break up ,and Created a Head and shoulder Formation at H1 chart , entry 1.6700 took when saw the H&S , SL set 1.8500 just above the H&S . When the trend is down with H&S one 1 hour Chart , with strong resistance at 1.9000 area.
Fibonacci Retracement : from the last down move 2.11 to 1.29 , the retracement of 0.618 at 1.7181 and 0.618 at 1.8175.
Risk & Reward Ratio : Entry at 1.6709 Risk is 10.72% 1.85 and reward is 22.20% , TP at 1.30. RRR : is at 2.07
The Upside : If the price move 1.500, and start to pump up higher than 1.67 , the I will close the trade , to manage the risk. will open new long trade if break higher than 1.9 resistance.
The Downside : will find another entry point to double my position , if break below 1.50
Practicing my own analysis , and my own trading journal . don't follow
Comment:
Price at 1.5600 , Set my SL to my Entry .Breakeven now. Risk free Ride.
Comment:
add one more position , at 1.6070 , current average price at 1.6418. SL , put above the neckline of the H&S . 1.7
Comment:
the reason , i add position is become RSI reach 70 in 5min , once reach RSI 70 , normally will continue to go down. added position and my Risk & Reward ratio, will update to 5.87. high reward .
Comment:
make loss on this trade. after sudden pump of bitcoin 15% within two days , bringing all the altcoin to pump together. probably due to war news.
Trade closed: stop reached