Another one with a pumped volume thats sustained a steady uptrend is QTUM, we have made some trades on this already as we picked a giant inverse H&S weeks ago waiting for the neckline to break, we did break but was a couple of false starts as we walk closer up trend to crunch time.
On the smaller time frames we have some time to retrace back to trend so only a small position taken so far with more orders back on trend and some lucky dips just below, if it has no chill and wants to run....so be it.
35% to first major target before a cool off period, with final target on the larger more bulky supply level at 1200 for a juicey 80+% total.
May need some time to get that final target but those tests in the books tells me it should move fast once we can close above the neckline.
If we break trend and start a downtrend then we out for now but looking for a reentry as i believe this wants to go.
On the smaller time frames we have some time to retrace back to trend so only a small position taken so far with more orders back on trend and some lucky dips just below, if it has no chill and wants to run....so be it.
35% to first major target before a cool off period, with final target on the larger more bulky supply level at 1200 for a juicey 80+% total.
May need some time to get that final target but those tests in the books tells me it should move fast once we can close above the neckline.
If we break trend and start a downtrend then we out for now but looking for a reentry as i believe this wants to go.
Trade active:
And this is why we teach more understanding of market structure, patterns and cycles rather than waiting for the market to react all the time.
we are already 16% up on this trade and its not breaking the neckline of the giant inverse.
Now bring on the break out scalpers late to the party looking for a 5%er lol.
This should have lengths, need to give it some room and let it walk, as we always teach risk management its ideal to avg out of position at key levels or move stops up to ensure profit take incase we are wrong.
we are already 16% up on this trade and its not breaking the neckline of the giant inverse.
Now bring on the break out scalpers late to the party looking for a 5%er lol.
This should have lengths, need to give it some room and let it walk, as we always teach risk management its ideal to avg out of position at key levels or move stops up to ensure profit take incase we are wrong.