Here we see Fib from low to high. You'll also see some that have started to form and support levels I've drawn.
So, let's make heads and tails of this.
Fib. is self-explanatory. I've drawn it from around the low to around the high of this coin. First major resistance comes in at .001. So, that will be our TARGET.
You can see that the current trend is upwards. I've drawn in these both on the price chart and the chart.
Support levels are: .00059 (this will be our stop out), .00053, and down from there .00036.
Resistance levels are: .00072 and .00079. We are currently fighting both. We are also forming an pattern against both (a good sign).
However, we are also at the top of our and nearing overbought conditions on the . This is our caution to put in your stops.
In conclusion, the charts favor an upward move but they are also admonishing us to be careful. My TARGET for this trade is .001.
Happy trading all!
Hope you all had fun. If you followed this trade, you will have nearly doubled your money in less than two days! Amazing!
Stay tuned for more trades like this in the near future.