The chart for Raiden / BTC is looking good for a trade.
Price has broken the long term downwards and so has a high probability of heading higher from here. In doing so it has created a variant of a candle stick pattern, which is a signal.
Raiden already gained 8% yesterday, but I expect that there could be a retest of the which often (but not always) occurs after a break of a .
Buy in : 6690 - 7243
SL: 6340 (below the recent swing low)
TP: 9190 (around the 100 )
Remember to be patient and wait for a retest. If it doesn't happen, that 's fine. There are plenty more opportunities. Let the markets come to us.
Morning Star Signal
is formed by a red candle, followed by an indecision candle (a candle whereby the market cannot decide either way, such as a ) followed by a green candle above at least 50% of the height of the first candle.
What we have here is great because:
Candle 1 -
Candle 2 & 3 - Indecision
Candle 4 - gravestone (almost)
Candle 5 - candle that is also larger than the first candle. This tells us that other traders acknowledge this level as a turning point.
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