This is my first post as a trading noobie. BINANCE:NANOBTC has been a fun coin to trade over the past few days, generating some decent profits.
If I've got the count right, it looks like we should be starting the 5th wave soon, after breaking out of the triangle. I'm not sure if I'm taking my FIB from the right spot though... The bottom of wave 1, or moved up to the start of wave 3?
We're also getting some Bullish Divergence on the RSI in lower time frames, showing that the strength is picking back up.
I'll be looking to enter long on confirmation of breakout.
Like I said, I'm a noob, and would appreciate any feedback. Happy Trading!
If I've got the count right, it looks like we should be starting the 5th wave soon, after breaking out of the triangle. I'm not sure if I'm taking my FIB from the right spot though... The bottom of wave 1, or moved up to the start of wave 3?
We're also getting some Bullish Divergence on the RSI in lower time frames, showing that the strength is picking back up.
I'll be looking to enter long on confirmation of breakout.
Like I said, I'm a noob, and would appreciate any feedback. Happy Trading!
Comment:
We broke out of the triangle, unfortunately to the downside and are maintaining some pretty constant pressure downward. Next spot to watch would be the 0.5 fib retracement area. RSI is very oversold, so hopefully we'll see a bounce soon.
Comment:
It looks like we touched down right above the 0.5 Fib Retracement area, and are trying to bounce to the upside. I'm still waiting for a break above the triangle to consider entering a position.
Comment:
We've got a break above the triangle, and right now are seeing some resistance around the 0.236 Fib region. I'm playing it cautious going into the weekend like this, but am watching it closely.