NULS, The validity of golden crossover and Fib range
Hello fellas, it has been a long time for me since I post my analysis about altcoin on Binance with alt/btc pair. and I try to have another fun with altcoins on binance universe again. This time I will share my idea about NULS.
Just like what you've seen, NULS is moving just inside of the descending triangle but an interesting point on this chart is at the EMA line. it has a perfect combination of golden crossover happening on the 4 hours chart and just like what we've known, the 4 hours chart is the most favorite time frame that is used by swing trader. At first, I was thinking to open buy position after the price breaks out of the resistance trend line but I realize that the room to the upper line is still wide and there is enough room for me to grow base on day trade so I decide to enter buy position.
Beside, I've seen the MACD histogram is growing strength and it is trying to tick to the positive side right now.
I put the target at the 2 white box for the 1st and 2nd target and put stop loss roughly under the horizontal support line. with sacrificing 5% loss to get 20% potential gain which produce a RR at 3.94 , I think it is a beautiful set up guys.
Just like what you've seen, NULS is moving just inside of the descending triangle but an interesting point on this chart is at the EMA line. it has a perfect combination of golden crossover happening on the 4 hours chart and just like what we've known, the 4 hours chart is the most favorite time frame that is used by swing trader. At first, I was thinking to open buy position after the price breaks out of the resistance trend line but I realize that the room to the upper line is still wide and there is enough room for me to grow base on day trade so I decide to enter buy position.
Beside, I've seen the MACD histogram is growing strength and it is trying to tick to the positive side right now.
I put the target at the 2 white box for the 1st and 2nd target and put stop loss roughly under the horizontal support line. with sacrificing 5% loss to get 20% potential gain which produce a RR at 3.94 , I think it is a beautiful set up guys.