NUcypher/ USD - Elliot Wave - Buy the Pullback! Then $.41
Hello Traders,
NU has gained some very good momentum at the moment.
We are about to hit a resistance area for the third time over the last 30-days. We've been harshly rejected each time.
You can refer to the chart above for the red resistance box above the price for where this area is. I do believe that upon breaking this heavy resistance, we should finish out the 5th wave of the Elliot wave theory. I buy and sell heavy based on the MFI. Key MFI areas for me are when it ducks below the 35, I buy, when it breaks above the 85, I move my SL very tight and get ready to sell.
This is only one indicator among a couple more that I use to base my trading decisions on, but I rely a lot on this tactic.
You can see below for a chart I posted yesterday about NU.
Good Luck!
NU has gained some very good momentum at the moment.
We are about to hit a resistance area for the third time over the last 30-days. We've been harshly rejected each time.
You can refer to the chart above for the red resistance box above the price for where this area is. I do believe that upon breaking this heavy resistance, we should finish out the 5th wave of the Elliot wave theory. I buy and sell heavy based on the MFI. Key MFI areas for me are when it ducks below the 35, I buy, when it breaks above the 85, I move my SL very tight and get ready to sell.
This is only one indicator among a couple more that I use to base my trading decisions on, but I rely a lot on this tactic.
You can see below for a chart I posted yesterday about NU.
Good Luck!
Trade active:
We hit the resistance box as I thought, now we should expect a small pullback opening up buying opportunities as the price moves down. I'll be waiting for a move down into the supply zone, then a bounce up before I make any more purchases at this time.
Trade active:
Okay, so we have found some support within the supply box. I've made a new purchase of NU at this level.
Comment:
Starting to look like a head and shoulders pattern forming on the 15-min chart. Expect a small pull back.
Comment:
large consolidation period. i’m expecting this one to take off over the next couple of days.
