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This is a simple look at a possible triangle break out (putting aside the two excessive wicks)
There are unfilled/matched orders up there. The "Square ups" (in green)
These are orders that are nearly always matched or filled like "gaps" in traditional markets.
With a clear slate below and the condensing triangle I'm watching the 3 square ups above with an easy 9% SL under all Daily MA's and into the cleared orders for the last several days and under everything up to Nov 9th.
Square up's approximate values are 17% 31% 80% for a solid R:R over the coming days to weeks.
This is a simple look at a possible triangle break out (putting aside the two excessive wicks)
There are unfilled/matched orders up there. The "Square ups" (in green)
These are orders that are nearly always matched or filled like "gaps" in traditional markets.
With a clear slate below and the condensing triangle I'm watching the 3 square ups above with an easy 9% SL under all Daily MA's and into the cleared orders for the last several days and under everything up to Nov 9th.
Square up's approximate values are 17% 31% 80% for a solid R:R over the coming days to weeks.
Comment:
QNT/BTC has had a rough day.
Down almost 8% vs BTC but if you are using a proper SL below the lower side of the triangle this is just the waiting game.
The huge triangle could be adjusted for the recent breakout and fits perfectly if we adjust the upper side of the triangle to the full wicks.
I don't often use the full wicks unless price action supports it but as you can see, in this case it most certainly does.
We could see as low as 67k sats for a great entry if you missed the first one.
All targets above and original SL are still in play.
Down almost 8% vs BTC but if you are using a proper SL below the lower side of the triangle this is just the waiting game.
The huge triangle could be adjusted for the recent breakout and fits perfectly if we adjust the upper side of the triangle to the full wicks.
I don't often use the full wicks unless price action supports it but as you can see, in this case it most certainly does.
We could see as low as 67k sats for a great entry if you missed the first one.
All targets above and original SL are still in play.
Comment:
Another volatile day for QNT/BTC
As we zoom in today we see another strike on the upper trend of the Triangle.
This rejection may be setting up yet another opportunity below for entry.
As we zoom in today we see another strike on the upper trend of the Triangle.
This rejection may be setting up yet another opportunity below for entry.
Comment:
As we continue to compress into this triangle, ANT has held up well against the BTC drop.
We are again testing the top of our triangle and may soon be ready for the long awaited break out above this level at 81.5k sats.
We are again testing the top of our triangle and may soon be ready for the long awaited break out above this level at 81.5k sats.
Comment:
Zooming on the Daily we're at a very interesting place.
Lower time frames look weak for a break out and volume is declining.
With out more technical barriers it's hard to argue that we won't push through here taking the second square up.
That all said, I come back to BTC and look for sustained slow growth or price inactivity for this to develop.
www.investopedia.com/ has this to say about our triangle...
"During this period of indecision, the highs and the lows seem to come together in the point of the triangle with virtually no significant volume. Investors just don't know what position to take.
However, when the investors do figure out which way to take the issue, it heads north or south with big volume in comparison to that of the indecisive days and/or weeks leading up to the breakout. Nine times out of 10, the breakout will occur in the direction of the existing trend."
Lower time frames look weak for a break out and volume is declining.
With out more technical barriers it's hard to argue that we won't push through here taking the second square up.
That all said, I come back to BTC and look for sustained slow growth or price inactivity for this to develop.
www.investopedia.com/ has this to say about our triangle...
"During this period of indecision, the highs and the lows seem to come together in the point of the triangle with virtually no significant volume. Investors just don't know what position to take.
However, when the investors do figure out which way to take the issue, it heads north or south with big volume in comparison to that of the indecisive days and/or weeks leading up to the breakout. Nine times out of 10, the breakout will occur in the direction of the existing trend."
Comment:
Looking for some volume support but this is the first daily close that is really trying to break out of the pattern.
Comment:
Or we can just check back in.
Comment:
If you have the ability to maintain solid risk management here QNT may have provided one more opportunity to get in.
I would use smaller mainframes and look for confirmation that we are not breaking to the bottom, but even on higher time frames on this slow move
Amazing watching larger patterns and trends keep it this tight.
I would use smaller mainframes and look for confirmation that we are not breaking to the bottom, but even on higher time frames on this slow move
Amazing watching larger patterns and trends keep it this tight.
Comment:
Watching this level closely after the near breakout.
Selling seems to be exhausting here but need to see some volume to help keep this idea valid.
Selling seems to be exhausting here but need to see some volume to help keep this idea valid.
Comment:
Watching this leg for added volume to help push it up to the targets above. Without some added pressure the first square up might be where we watch for a pull back to the second and maybe third.