RSRUSDT forming a Cup and Handle formation. About to pump?
RSRUSDT has been on a clear Cup and Handle formation that began on September 3rd; the handle forming since November 25th.
Things to take into account:
- We know the formation is valid as the cup has been forming steadily for 84 days - the handle for 35.
- Price volume has been decreasing during the handle formation period, which is a healthy sign typical of these types of formations.
- MACD shows signs of crossing over. This together with the volume decrease it signals bearish exhaustion and a potential reversal.
My own position triggered on December 23rd at fib level .236 at price .015, which is a good spot for a local bottom. The formation itself will be invalid IF we don't hold this level. My own SL set up at .014 to give it some space to breath.
Good luck to everybody out there.
Things to take into account:
- We know the formation is valid as the cup has been forming steadily for 84 days - the handle for 35.
- Price volume has been decreasing during the handle formation period, which is a healthy sign typical of these types of formations.
- MACD shows signs of crossing over. This together with the volume decrease it signals bearish exhaustion and a potential reversal.
My own position triggered on December 23rd at fib level .236 at price .015, which is a good spot for a local bottom. The formation itself will be invalid IF we don't hold this level. My own SL set up at .014 to give it some space to breath.
Good luck to everybody out there.
Trade active:
Holding long and strong, lads.
Congrats if you got in a few days ago while we were still ranging inside the handle's channel.
Congrats if you got in a few days ago while we were still ranging inside the handle's channel.
Trade closed: target reached:
Forgot to update this idea. It was a great success. Long closed at 0.04200, or 180% above the position's opening.