NXT/USDT Entry Reward to Risk 5:1

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NXT is in a symmetrical triangle; however the icloud is below which suggest a bullish bias. If we exit the top of the triangle a trade can be initiated with the first target being the upper end of the rising channel .

The final target is .76; however, some should be left for the continued run up to the Ignis airdrop (NXT holders will receive 0.5 Ignis based on a snapshot on 12/28)
Comment: Well, that's annoying. As I was posting, it turned into a descending triangle. Which is a bearish pattern.

Still, there is good support at the .786 fib, which is also cloud support in this case. I'll still enter on a break above the top of the triangle.

Comment: Well, the symmetrical triangle (neutral) turned into a descending triangle (bearish), which then turned into a descending wedge (bullish).

Frankly, this makes more sense given the support at the .786 fib is holding, and we've entered the 1 hr cloud.

As such our entry point has been adjusted down to .428. Our stop will be just below the could, and we have a new partial take profit just below the previous high.

Comment: Moving this to a new post.
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