HC found support above 30000 sats. 4 hour MACD and RSI are bullish. It is consolidating above 200 daily ema which makes it bullish already. A close above 36000 sats will make it a good buying oppurtunity. A break below 30000 sats will invalidate the setup.
Trade active:
Looking at tight consolidation below 36k level. I entered a breakout trade at 35k sats.
Trade closed: stop reached
Trade closed: stop reached:
A look at the mistake committed -
I saw the tight consolidation below the resistance level and entered a breakout trade. But that consolidation has a previous up move which didn't have a strong anchored volume.
I saw the tight consolidation below the resistance level and entered a breakout trade. But that consolidation has a previous up move which didn't have a strong anchored volume.
Comment:
I have been updating all my recent posts after I practised elliot wave theory analysis. A complete change of perspective after learning it. Also I feel very confident with my trades.
Comment:
This market is highly illiquid. Can't say if the elliot waves would play out or not