Chainlink Vs. USD - 3 Day Chart, TD Set-up, & Swing Trade Idea
The 3-day chart is the Golden Chart for Chainlink vs. USD at the moment.
The TD indicator has lined up multiple TD 9 tops that have predicted 2 to 4-day pullbacks, and then set up a run for new all-time highs. We have just printed another perfected TD 9 candle and are currently on our first 3-day red candle. I would anticipate another one to three 3-day red candles before we set up for another TD 1 to 9 candle run leading to new all-time high prices.
The .236 Fib level looks like a likely target for the LINK price to pull back to. That price is currently around the $7.2 USD range. If support is held at the .236 Fib level, that is an indicator to average into a swing trade position. If the .236 Fib level is broken, look to the .382 Fib level for the next support level where the price will be around $6.5 USD.
Also, the RSI adds support to this idea as it is extended into the overbought range and has recently begun to head lower as the last rally has sold off. Watch for the RSI to reach the 61.26 level as that seems to be an important support & resistance zone. If it reaches that level and treats it as support, that should give a buyer confidence to begin averaging into a new swing position.
The TD Sequential set up, along with the Fib & RSI support levels on the Chainlink vs. USD 3-day chart are telling a rather predictable story for future price movement.
I like this set-up for a new swing trade (or long term hold position) given the overall bullishness and high trade volumes as of recently for Chainlink. I believe the crypto-asset will be another winner giving investors multiples on their investments if purchased at these levels.
The TD indicator has lined up multiple TD 9 tops that have predicted 2 to 4-day pullbacks, and then set up a run for new all-time highs. We have just printed another perfected TD 9 candle and are currently on our first 3-day red candle. I would anticipate another one to three 3-day red candles before we set up for another TD 1 to 9 candle run leading to new all-time high prices.
The .236 Fib level looks like a likely target for the LINK price to pull back to. That price is currently around the $7.2 USD range. If support is held at the .236 Fib level, that is an indicator to average into a swing trade position. If the .236 Fib level is broken, look to the .382 Fib level for the next support level where the price will be around $6.5 USD.
Also, the RSI adds support to this idea as it is extended into the overbought range and has recently begun to head lower as the last rally has sold off. Watch for the RSI to reach the 61.26 level as that seems to be an important support & resistance zone. If it reaches that level and treats it as support, that should give a buyer confidence to begin averaging into a new swing position.
The TD Sequential set up, along with the Fib & RSI support levels on the Chainlink vs. USD 3-day chart are telling a rather predictable story for future price movement.
I like this set-up for a new swing trade (or long term hold position) given the overall bullishness and high trade volumes as of recently for Chainlink. I believe the crypto-asset will be another winner giving investors multiples on their investments if purchased at these levels.
Trade closed: target reached:
The Link price is currently resting on the .236 Fib level as predicted. See if it holds this level and starts to bounce with high volume. Averaging into a position at the beginning of this bounce could provide a good basis for a swing trade.
If it breaks this level, look for it to reach the .382 Fib level and then re-assess.
If it breaks this level, look for it to reach the .382 Fib level and then re-assess.
Trade active:
*The trade is not closed. It is still active.
Trade closed: target reached:
Closing this trade as it played out exactly as predicted! 50% up from cost basis!