What do I like about this chart?
Putting in double-bottom structure very close to the .786 fib. I can buy at this level. A level where one can expect markets to turn if buyers are long. Limits my down side risk not buying the top of the market. A retrace to the 50% level, not far fetched imo, will almost double our money. Just above there are some wicks that will have to be "eaten". Price will often return to discover these. I've been nibbling from about $.93- $1.04, but am considering adding if this weekly double confirms and closes above the $1.10-$1.12 area. My risk is to zero.
There is a very distinct and confirmed bullish divergence in OBV.
There is some buy volume but would like to see it gradually stack higher.
It isn 't quite oversold, and it may not get there, if it turns up like the chart suggests.
Volume profile needs to be filled. Price dipped into value low, rejected it, and is now, I suspect, heading toward value high. Markets will do this frequent enough that I feel comfortable with TP there.
I like the story behind it, too.
This is not trading, financial, or life advice. I'm a beginning trader/tech/fundamental analyst. Received my discretionary trader's education from TRi, School for Trader Development.
STORJUSD
STORJUSDT
Putting in double-bottom structure very close to the .786 fib. I can buy at this level. A level where one can expect markets to turn if buyers are long. Limits my down side risk not buying the top of the market. A retrace to the 50% level, not far fetched imo, will almost double our money. Just above there are some wicks that will have to be "eaten". Price will often return to discover these. I've been nibbling from about $.93- $1.04, but am considering adding if this weekly double confirms and closes above the $1.10-$1.12 area. My risk is to zero.
There is a very distinct and confirmed bullish divergence in OBV.
There is some buy volume but would like to see it gradually stack higher.
It isn 't quite oversold, and it may not get there, if it turns up like the chart suggests.
Volume profile needs to be filled. Price dipped into value low, rejected it, and is now, I suspect, heading toward value high. Markets will do this frequent enough that I feel comfortable with TP there.
I like the story behind it, too.
This is not trading, financial, or life advice. I'm a beginning trader/tech/fundamental analyst. Received my discretionary trader's education from TRi, School for Trader Development.
STORJUSD
STORJUSDT
Trade active:
lettn'r ride