ForecastCity
Long

A great buy trading opportunity comes for VENBTC. Catch it!

BINANCE:VENBTC   None
Technical analysis:
.VEN/BITCOIN is in a range bound and beginning of up trend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
.The RSI is at 54.

Trading suggestion:
Price is in the support zone (0.00051 to 0.00042), traders can set orders based on Price Action and expect to reach short-term targets.

.Beginning of entry zone (0.00051)
.Ending of entry zone (0.00042)

Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough", in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:

(We have started to prepare these lessons in TradingView. If you want us to continue, give us feedbacks!)

Take Profits:
TP1= @ 0.000628
TP2= @ 0.000815
TP3= Free
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Is the rebranding a good thing or a bad thing next week?
+2 Reply
ForecastCity Dieter1983
@Dieter1983, We don't believe in fundamental analysis, but we stand aside when important ones like NFP.
+1 Reply
Thanks for sharing! Can you post an update when you enter the trade? Also how long do you think it might take for VEN to retrace to the buy zone?
+4 Reply
@MuMPiTz, Risky traders may take a long position right now, but to reduce the risk, better to wait for retrace, it is the natural behavior of the financial markets, but we can't say how long it takes.
Reply
MuMPiTz ForecastCity
@ForecastCity, okay, thanks for your answere! Just wonder if in this case, the rebranding on feb 26th is driving the upswing and who knows if it might come back :)
Reply
@MuMPiTz, Agree, as replied to @Dieter1983 , we don't believe in fundamental analysis, just standing aside.
+1 Reply
MuMPiTz ForecastCity
@ForecastCity, okay, good to know, thanks
Reply
Love the lesson. Keep it up!
+2 Reply
@RJH311, My pleasure :)
+1 Reply
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