Kuma Here :) ~ 60% Profit, 8% Risk ~ 8.93 RISK RATIO
Time Frame: 4H
Pair: NANOBTC
Exchange: Binance
Quick analysis of NANOBTC. I have drawn a inverse head and shoulder on this chart which shows the potential of bullish move upward. Our price is above 50 EMA (Blue) and 20 EMA (Green) which is a good sign. On top of that, we can see a inverse head and shoulder forming on 4H which also indicate a bullish trend. MACD and RSI still shows room for bullish move, this is positive duh. A close price above dotted green line could send the price to the green exclamation mark. The potential of this trade would be 60% profit against 8% risk which is great. In other words, an entry at current price level is high reward / low risk. Happy trading.
Pair: NANOBTC
Exchange: Binance
Quick analysis of NANOBTC. I have drawn a inverse head and shoulder on this chart which shows the potential of bullish move upward. Our price is above 50 EMA (Blue) and 20 EMA (Green) which is a good sign. On top of that, we can see a inverse head and shoulder forming on 4H which also indicate a bullish trend. MACD and RSI still shows room for bullish move, this is positive duh. A close price above dotted green line could send the price to the green exclamation mark. The potential of this trade would be 60% profit against 8% risk which is great. In other words, an entry at current price level is high reward / low risk. Happy trading.
Comment:
I have to add also that a possible pullback or reversal may take place at previous high before continuing
Comment:
NANBTC broke out of the trend channel again which indicate bad news. This could be on the other hand a pullback to test our 200 EMA , 50 EMA, 20 EMA lines. Be sure to use stop loss, recommended a little bit below the right shoulder.
Comment:
Close above 0.0016 would possible create a cup and handle on bigger scale! It could probably send the price to around 0.0026! As for now, the price is still outside the trend channel! There are two ways, either by fibonacchi trend extension or drawing a line from top of the cup to bottom then move the arrow above the cup.