Sorry for the clickbait title but I am feeling the vibe on this one. I know, I know. Targeted by the SEC as a security. But, on the other hand, one of the tokens legalized by the Hong Kong market. Outside of debates regarding fundamentals, let's dive into what the technicals seem to be showing us!
First, take a look at the beautiful triangle! Dang son, it don't get much better than that yo!
Now, look down there at that RSI. See that red TL? Pop, pop, ...and POP. At every touch you can bank on cash.
Incidentally, this third touch will coincide with a touch of the bottom of our triangle. And, just below that, a very important support.
This is an easy bet. I have entered at 37 cents ish and will hold till at least 53 cents with the remaining balance to 58 if I don't get stopped out first.
I will be moving my stops up as we go as always.
Best,
Stew
First, take a look at the beautiful triangle! Dang son, it don't get much better than that yo!
Now, look down there at that RSI. See that red TL? Pop, pop, ...and POP. At every touch you can bank on cash.
Incidentally, this third touch will coincide with a touch of the bottom of our triangle. And, just below that, a very important support.
This is an easy bet. I have entered at 37 cents ish and will hold till at least 53 cents with the remaining balance to 58 if I don't get stopped out first.
I will be moving my stops up as we go as always.
Best,
Stew
Stewdamus Trades -
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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stewdam.us
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
I thought it would be courteous to come back to TV and update each one of my trades as during the last flash crash I was simultaneously ban by TradingView for accidentally violating House Rules by inadvertently mentioning where you could keep up to date on all of my trades. I have to be more careful on this platform and will work my best to carefully avoid references in my posts and videos.
Anyways, it was definitely an inconvenient time to be banned as I had to leave all of my TV peeps hanging. Long story short: I was stopped out of most of my previous trades and ended up re-entering at a lower price. I expected a much bigger bounce from my trades as almost all of them were (and still are) in deeply oversold territory on the RSI. Nonetheless, I don't expect to exit again until we at least get a bit of a bounce and exit oversold territory on the RSI charts.
Below you will find my new entry price (where red turns green), my initial target and my initial stop limit. All of these are subject to change as time goes and I continue to re-assess price action.
This is not financial advice. Just showing you all what I am doing here.
Best,
Stew