Hi Traders
Let's take a look at Lisk on the 1h chart, and back it up with the daily.
Technicals:
-MACD has shown strong divergence in line with a nice wave 1. coming back to the lagging line par and expecting a bounce off this or a slight dip under if we push through the current support to the second green buying box. Starting to turn on the daily chart as well based on my indicator settings.
-Volume has tapered off with less and less sell pressure as we converge on the 61.8% fib coinciding with the general end point of a C wave retracement. Nice big daily buy bar sitting here now.
-RSI also mirroring a C wave retracement here, looking to turn upwards but plenty of growth available. Has turned on the daily and heading upwards with lots of growth.
-Elliot waves: Typically a wave 2 shows the clearest ABC retracement which is what we are looking at here. Convergence with the Fib lines is a sign of potential strong resistance areas.
Be mindful that if BTC decides to run here, and we push below the second green buy box then the analysis is invalidated.
First target of 20990
Second target of 22100
Third target for extended wave 3 the highest red line drawn.
I recommend you layer both buys are sells to ensure you are not caught out.
Always place a stop loss.
If you have had success with a trade signal and would like to tip or donate:
ETH 0xA931D6F82e37dC459096D68cD6d8414f79840753
If you are not already signed up on the below exchanges you are welcome to join using the below links:
Binance bit.ly/2DRH96k
Cryptopia bit.ly/2DGt24v
KuCoin bit.ly/2BvTIyI
These are the three core sites I use personally depending on the coins I wish to purchase. Primarily I use Binance for the cheap fees and BNB discounts, I also am registered on Bittrex but only use this when necessary due to fees.
Disclaimer:
The information published is not intended to, nor should it be, construed as financial advice. The sole purpose of publication is for personal tracking purposes and feedback. Any investment decisions, gains or losses, are your own and I hold no liability. Invest only what you are prepared to lose.
It is common to use no more than 10-20% of capital in any one trade.
Let's take a look at Lisk on the 1h chart, and back it up with the daily.
Technicals:
-MACD has shown strong divergence in line with a nice wave 1. coming back to the lagging line par and expecting a bounce off this or a slight dip under if we push through the current support to the second green buying box. Starting to turn on the daily chart as well based on my indicator settings.
-Volume has tapered off with less and less sell pressure as we converge on the 61.8% fib coinciding with the general end point of a C wave retracement. Nice big daily buy bar sitting here now.
-RSI also mirroring a C wave retracement here, looking to turn upwards but plenty of growth available. Has turned on the daily and heading upwards with lots of growth.
-Elliot waves: Typically a wave 2 shows the clearest ABC retracement which is what we are looking at here. Convergence with the Fib lines is a sign of potential strong resistance areas.
Be mindful that if BTC decides to run here, and we push below the second green buy box then the analysis is invalidated.
First target of 20990
Second target of 22100
Third target for extended wave 3 the highest red line drawn.
I recommend you layer both buys are sells to ensure you are not caught out.
Always place a stop loss.
If you have had success with a trade signal and would like to tip or donate:
ETH 0xA931D6F82e37dC459096D68cD6d8414f79840753
If you are not already signed up on the below exchanges you are welcome to join using the below links:
Binance bit.ly/2DRH96k
Cryptopia bit.ly/2DGt24v
KuCoin bit.ly/2BvTIyI
These are the three core sites I use personally depending on the coins I wish to purchase. Primarily I use Binance for the cheap fees and BNB discounts, I also am registered on Bittrex but only use this when necessary due to fees.
Disclaimer:
The information published is not intended to, nor should it be, construed as financial advice. The sole purpose of publication is for personal tracking purposes and feedback. Any investment decisions, gains or losses, are your own and I hold no liability. Invest only what you are prepared to lose.
It is common to use no more than 10-20% of capital in any one trade.
Comment:
Sadly BTC decided to break out just after this post which has pushed the retrace back down to the 78.6% fib and the prior break out point. I will now be watching this to confirm support again at this point as you can see the prior resistance has turned support here. Assuming no mega moves from btc the next 12 hours here will be confirming a reinforce position at this fib, if it starts to fall you will likely see your stop loss triggered and we will look to reassess once it moves back above the current support / resistance line.
Trade active:
Lisk seems to have respected the 88.6 fib and bounced nicely now. coming back up to the prior entry points.
Comment:
