We are going to buy, Trade and sell it as we can turn over 300% in shorter timeframes on other trades.
Those of you that work though may be interested in putting this into your portfolio as a hold.
I am going to trade it, I am waiting for the first candle to close outside the to see a very nice run.
This coin I have already bought the reason being is we have many indicators here pointing us in the right direction.
You will see the underlying trend here of Siacoin on the 200 (purple line) is still a downward trend but if we jump down to the 50 we have just met price.
Siacoin has been trading down in this channel for quite some time and bouncing off its support however as you will see circled in blue this time we bounced from a bottom that was created a number of months ago. You will see the aggressive buys in the blue circle this shows us the buyers are going to beat the sellers there.
You will notice the change in trend on the A/C indicator, people are buying up SC and not selling it off therefore we are gaining momentum and this will drive us to a breakout.
I took an aggressive entry and bought yesterday, the reason for this is 20 and the 50EMA have just come under price and crossed, this will provide very strong support to get us outside the channel (green line) we can then use this line as our support and safety net for a stop loss.
I want you to look at the blue arrow pointing down here you will notice as the candle put in a lower low yet the was punching out a higher high (circled in purple), this is the we look for in these coins that have been travelling downwards for such a duration this will usually give us enough insight to see change of direction.
Targets are the blue lines, this trade will develop nicely over a short time period, the conservative investor will buy first 4H candle to close outside channel, when this happens buys will come in strong.
Cash is King! I have a few trades today I will release for you all!
Collect some profits.
We then move onto next target
We have collected a 60% profit already.