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.
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.