HUC On the hunt for the cloud

Looking for a side to side cloud trade here, waiting for an entry and confirmed daily close in the cloud. The TK cross would further solidify this position as well.

Bbands constricting and looking good, volume is low here in this market but when it goes these prices swings are standard.

Comment:

This trade is not for beginner traders, as the volume of this coin is extremely low and the overall history of this coin is very volatile and manipulated. This trade is not one that you should be risking more than 5% of portfolio and should have a tight mental stop loss with a stop loss set on previous support ( 1916 sats.) We will be entering HUC after the daily closes over 3162 sats with a confirmation green candle over that entry, but once we enter the cloud (red blob) we need to be following closely because it could move very quickly into our target, thus it is important to set alarms. In this charts I am using a the Gambit Trading Suite with 3 indicators: Bollinger Bands, ichimoku cloud, and at the bottom (TCF) trend continuation factor.
BB’s (Bollinger bands) in this trade let us see when we are preparing for a break out, in this instance we can infer that we will be breaking out upwards as this coin has found the previous break out floor and the bands are constricting, indicating that we are in a time of consolidation before a break out. While this is indicator is a good indicator, we couple that with the cloud. The cloud allows us to have a multitude of information drawn on the chart for us. First we will be looking at the Blue line (conversion line) formally known as the Ten-Kan, and the Red line (Base line) known as the kijun. These both represent moving averages and are set at accelerated levels and lagging levels. These let us know when to enter and exit a position but are not indicative of an entry on their own. A perfect entry will use four of the indicators from the cloud, but it is important to note not all need to be apparent for a breakout. The four indicators are a bullish TK cross (blue line comes up over the red), the cloud twist from red to green, the lagging span is over the cloud, and the price is over the cloud. This is a perfect situation, but in this trade, we are only looking for two things to happen. One the price enters the cloud on the daily with a confirmed candle in the cloud, two the bullish TK cross happens. This is known as a side to side trade with the cloud and expect the candle, once confirmed into the cloud to try and touch the other side. The last indicator we are using is the trend continuation factor, this indicator has 2 lines the blue being Plus TCF and the red Minus TCF. When the plus TCF is positive the trend is bullish, when the blue crosses the red line and the red becomes positive it is bearish. Also, important to note when both are positive it infers that we are in consolidation to further solidify the BB’s.
Trade is set with a R/R of: 5.33
Stop: 2379sats Target: 7400sats

Comment:

www.coinigy.com/s/i/59d09255a3490/

Comment:

www.coinigy.com/s/i/59d32bd5f3e56/

Order cancelled

Comment:

Might come back, looking for confirmation