I went in long REQBTC yesterday as it looks to be building up on the daily and provides a favorable RR ratio. 4H MA50 has crossed MA200 and seemingly holds. 1D MA50 is closing to MA200 - it is now decision time. Volume is low - ready for a break-out to the up- or downside. SL IF daily closes below MA50 and DC20 OR if on the 4H TF there is a bearish reversal close to respective day's end that suggests daily will fulfill the criteria (to optimize losses).
Next resistence is under 349 providing almost 100% potential gain.
Any comments are more than welcomed! Thank you and please trade carefully and with money you can afford to lose.
Trade active
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4H:
Comment
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1W - look at how weekly MA50 is currently well-aligned with next resistance identified on the daily by using DC20.
Trade closed manually
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For transparency - I have closed this trade and went after trades with better momentum potentially such as MATICBTC and RCNBTC. This has not yet met SL criteria however due to the above I have closed my trade