That aside, if the weekly candle closes somewhere in the price range it is at right now, we are looking at a very bullish setup. The setup is an inside bar / pin bar fakeout, on the weekly, on major support, and is with the prevailing trend. You really can't ask for much more. It is important though to wait until the weekly candle closes to make any trading decisions.
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Price has weakened a bit since this post but there is still 20 hours left before the weekly candle closes. I find any close above 4.00 to be bullish. A close above 4.25 to be very bullish.
closed above the line. good start to this weeks candle
devilninja777
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you were right, it definitely nuked
krugman25
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@devilninja777, 20% was made on that trade. If you missed it you were sleeping.
mboody1980
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looks a little flaggy. i think we are seeing consolidation and technicals resetting before another move up. LINK is definitely showing strength verse the market
krugman25
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@mboody1980, 100%. It is breaking down with the rest of the market in USD terms, but certainly continues to be the top performer in BTC and ETH terms, which is why I have decided to continue to hold despite it's breakdown in dollars.
prefabsprout
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what was decided? a buy? rest of market likely continuing to dump so a litttttle scary..
krugman25
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@prefabsprout, The candle closed a bit weaker than I wanted to see, but it still closed within the previous weeks low and also had one of the most bullish setups of any top crypto pairs so I went long with a fairly large position.
prefabsprout
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will be watching this closely tomorrow. thanks.
ParabolicP
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Need that hammer on the weekly
krugman25
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@signaturesoundz, 36 hours left, but we may get it!