jonasthomasen

RPXBTC heavy accumulation and trade setup

BINANCE:RPXBTC   Red Pulse / Bitcoin
Hi guys,

It seems like RPX             is going through some heavy accumulation. It's right now forming bullish pennant , but due to lack of volume and previous price action i think it's going to break down, and therefore i have an entry zone around the previous support line with a stoploss underneath. Are you the risky trader, you can choose to trade a pennant breakout with a stoploss underneath the triangle - but keep in mind this is VERY risky.

I am personally waiting for the marked entry zone. The accumulation at this price level indicates something is brewing.

As a bonus the fundamentals for this coin is non arguable.

Important to remember is, that following my or any other trades on TV is at your own risk.
Comment: RPX broke out to the downward side of the pennant as expected - might also be due to the BTC drop. Waiting for the entry point.
Comment: Not much happening in terms of entering the entry zone. Could be doing another wave up but volume remains low, so i'll keep the entry zone in play for now.
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