Hello guys, welcome to this analysis on storm.
looking at the chart seems like Storm after a parabolic move has made a huge cup and handles, just like my post last week about Eos.
The volume signature supports my idea as well and all the indicators are showing bullish action.
Storm is ready to go for a hyperbolic mode and storm to the moon.
now we gonna analyze it step by step.
but before that, i have to say as far as it is a low cap and high supply coin i suggest to use very small position sizes to trade it. both because you this type of coins are risky to trade and also you have to have wider stop losses in swings so you won't get stopped out of the trade.
looking at the chart seems like Storm after a parabolic move has made a huge cup and handles, just like my post last week about Eos.
The volume signature supports my idea as well and all the indicators are showing bullish action.
Storm is ready to go for a hyperbolic mode and storm to the moon.
now we gonna analyze it step by step.
but before that, i have to say as far as it is a low cap and high supply coin i suggest to use very small position sizes to trade it. both because you this type of coins are risky to trade and also you have to have wider stop losses in swings so you won't get stopped out of the trade.
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looking at the chart you can see a huge curve that hit the same resistant at the all-time high and then we had retracement left at the right side of the chart.
looking at the volume you can see that we have high volume on both sides of the volume bar at gree arrows followed by a decline of the of the volume.
which supports our idea for a hyperbolic move that gets us to around 1126 sat area based on the measured move.
looking at the volume you can see that we have high volume on both sides of the volume bar at gree arrows followed by a decline of the of the volume.
which supports our idea for a hyperbolic move that gets us to around 1126 sat area based on the measured move.
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looking zoomed in at 1 hr chart, you can see that we have created a falling wedge which is a bullish pattern and we have already broken above it.
which suits the characteristics of a handle.
which suits the characteristics of a handle.
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a break above the dotted green line on top at 768 area followed by confirmation of that line as support ( opening and closing candles above that area)
can be a good buy signal.
can be a good buy signal.
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* None of this is financial advice, it's just an idea and my trading diary and for educational purposes, do your own research! ;) *
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I'll update this when we develop more.
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alrighty, here we go!
we can see that the macd has a bullish cross and we are moving to the dotted trend line.
I can expect the price to stop there and make a smaller cup form flirting with the dotted green line before going more up.
we can see that the macd has a bullish cross and we are moving to the dotted trend line.
I can expect the price to stop there and make a smaller cup form flirting with the dotted green line before going more up.
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working good so far we are trending to the target at the green line.
you can see it from the lower highs that the move is making. as far as we don't drop below the dotted yellow line on very high volume we are good to continue.
you can see it from the lower highs that the move is making. as far as we don't drop below the dotted yellow line on very high volume we are good to continue.
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for educational purposes :p
most of the new traders get scared at small drops or retracements or lower highs and either sell or give up their position. think slowly and analyze the situation.
price don't usually uptrends in a straight line unless it's in a parabolic or hyperbolic state which we love and happen a lot in crypto <3
the only time when the price is going up and its bearish is when it's in a bearish rising consolidation pattern. you should study these patterns and how to trade them if you wanna become a good technical analyst.
most of the new traders get scared at small drops or retracements or lower highs and either sell or give up their position. think slowly and analyze the situation.
price don't usually uptrends in a straight line unless it's in a parabolic or hyperbolic state which we love and happen a lot in crypto <3
the only time when the price is going up and its bearish is when it's in a bearish rising consolidation pattern. you should study these patterns and how to trade them if you wanna become a good technical analyst.
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btc is dumping :/ it effects all of the alts
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we are good as far as we are holding this box.
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you see guys whenever price dropped just draw a box under it and it will stop dropping.
=))) jk it doesn't work like that
=))) jk it doesn't work like that
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remember guys this trade is a bit tricky, as I said, in the beginning, the safest way to play it is to buy above that dotted green line.
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we had a massive drop in the market today that affected all of the alts.
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trade is technically active as far as we hold the dotted red line.
remember you wanna buy above the green line. candles have to open and close above that area, don't fomo into this trade.
remember you wanna buy above the green line. candles have to open and close above that area, don't fomo into this trade.
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meh, poor guy got rekt really hard after the btc drop, but let's give him a chance to prove himself. looks like he's pulling himself up.
at this time it's just a watching game, we should wait for him to prove himself and get to the dotted yellow line, cross above it and reach the dotted green line.
I repeat we don't wanna buy unless we see a break out above the dotted green line into the green box.
at this time it's just a watching game, we should wait for him to prove himself and get to the dotted yellow line, cross above it and reach the dotted green line.
I repeat we don't wanna buy unless we see a break out above the dotted green line into the green box.
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at the moment this trade is on halt, just a watch game but if it pulls back up I expect huge gains from it.
wait for my call before buying it.
wait for my call before buying it.
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Alright, guys, I post this because one of you asked it from me.
technically we have failed after the break above the wedge due to the BTC drop but as you can see the top of the wedge is acting as support which is not a bad development and it shows us that price can go up again.
However, if the price goes below the bottom of the wedge at the and closes there, that's going to be a very bad development and is gonna follow up with an increase of selling momentum.
technically we have failed after the break above the wedge due to the BTC drop but as you can see the top of the wedge is acting as support which is not a bad development and it shows us that price can go up again.
However, if the price goes below the bottom of the wedge at the and closes there, that's going to be a very bad development and is gonna follow up with an increase of selling momentum.
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Guys if I tell you to buy at a certain area, there is a reason and calculation behind it.
I calculate the risk vs reward of a trade and also give you the buy zone based on a certain scenario that is in my mind.
I repeat rule number 1 don't Fomo. follow the instruction there is a reason behind them.
I calculate the risk vs reward of a trade and also give you the buy zone based on a certain scenario that is in my mind.
I repeat rule number 1 don't Fomo. follow the instruction there is a reason behind them.
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however, if you bought under my buy zone at the green box.
the trade is still active until we close a candle below the dotted red line.
so you have 2 choices.
1. set up a stop 1% below the dotted red line and hold your position in case we go up.
2. if you are at 1-3% loss or break even, it might be a wise chose to take the loss atm and avoid letting the risk run. because this trade is in a risky territory and it's always wise to cut the risk and not let it run.
if you take 1-3% loss you can always get it back in the next trade easily.
but if you are let your loss run and risk 10% of your investment. then you need 20% to break even.
the trade is still active until we close a candle below the dotted red line.
so you have 2 choices.
1. set up a stop 1% below the dotted red line and hold your position in case we go up.
2. if you are at 1-3% loss or break even, it might be a wise chose to take the loss atm and avoid letting the risk run. because this trade is in a risky territory and it's always wise to cut the risk and not let it run.
if you take 1-3% loss you can always get it back in the next trade easily.
but if you are let your loss run and risk 10% of your investment. then you need 20% to break even.
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follow my instructions and you make money, there is a reason behind them.
;)
;)
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price is bouncing at a very low volume. the first resistant it gonna have is the dotted yellow line of the channel that it dropped below it.
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what we wanna see is it get's back into the channel and get up to the green box.
remember that's not a buy signal yet.
remember that's not a buy signal yet.
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it's running out of gas although it hasn't even reached the resistant yet, tbh the volume is not really good we are just floating up on low volume which is a meh action. this is why it was NOT a buy signal and you have to wait until we get above the green box.
we want confirmations about our scenario first before risking our hard worked money in it.
we want confirmations about our scenario first before risking our hard worked money in it.
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looks like its forming a bear flag which 90% of the times break to the downside. let's see.
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looks like its breaking down, the support below it will be the dotted red line at 649 sats. if it goes sideways and makes another cup there is a chance for it for it to do something like EOS last week.
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I'm still watching this bad boy, we still need confirmation for it and we gonna play it if it gets above 762 sats.
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he's behaving well so far as my previous post and follows my demand :P
sometimes I really get surprised by my own predictions.
sometimes I really get surprised by my own predictions.
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but again we wanna make sore it's a handle not some sort of a double top failure.
so be patient, please.
so be patient, please.
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you see guys whatever looks like a cup and handle is not a cup and handle, you should always wait for confirmations of your theory before putting money into them.
that why I told you, that you have to buy above the green box.
atm it looks like a weird island double top to me and its struggling to hold the uptrend channel in dotted blue line.
that why I told you, that you have to buy above the green box.
atm it looks like a weird island double top to me and its struggling to hold the uptrend channel in dotted blue line.
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losing that will be followed by an increase of the selling.
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see my friends :P this is why you have to wait for confirmations.
whatever is round and has something like a handle is not a cup and handle!!
it can be a double top or and island top or many other stuff xd
don't trade assuming a pattern is gonna materialize! always trade the confirmations.
whatever is round and has something like a handle is not a cup and handle!!
it can be a double top or and island top or many other stuff xd
don't trade assuming a pattern is gonna materialize! always trade the confirmations.
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well, it never hit our buy zone, unfortunately.
it's going my "meh coin" list from now on until it proves me wrong, then I'll update it
it's going my "meh coin" list from now on until it proves me wrong, then I'll update it
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going to my*