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ijustcoin
May 17, 2021 1:16 PM

VETUSDTPERP - A potential to hit $0.5 level by mid June Long

BINANCE:VETUSDT.P720
VeChain / TetherUS PERPETUAL CONTRACTBinance

Description

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Hi, iJustCoiners


We are in a long term bull-trend. Which means we will have a higher lows for a long period of time.

If this current low at $0.14 is the bottom we may consider it as a higher low compare to previous $0.13 level.

What price levels we should expect if we reverse upwards from here ?

- Using FIB extension levels and pitchfork i expect 3 price zones pointed on a chart with colored boxes.

- We may go as high as $0.5 which is 1.618 FIB level. This is also an upper diagonal of a long term pithfork channel.

- The whole move up might take up to 50 days. And if everything goes as expected it might be a 200% move upwards.


My trading algo:


Step 1. Get the signal
We already got the buy signal from Blue LSMA on the 6H and 12H

Step 2. Confirmation.
We are about to get the buy setup

Buy Set up:
⦁ 6H Energy > 50
⦁ 12H Energy = 50
⦁ 1D energy > 30 or at least curved up


2.1 Calculate potential exit zones(+)
1. $0.28 - $0.31
2. $0.32 - $0.35
3. $0.41 - $0.50

2.2 Draw on the chart the time period you're planning to be in the trade(+)
May 18th - June 18th


Steps to be done:

Step 3. Execute the trade

I've pointed a time period from May 17th till May 18th for my potential buy execution. I will execute the trade using 90M chart.




3.1 Increase your position on the way up
I'll use 90M chart to buy more


Comment

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We hit an Aqua diagonal trendline and made a lower low.
I have to make adjustments to my fib levels to calculate potential price levels for this summer.

We got 4 new ranges:

1) 0.29 - 0.33
2) 0.34 - 0.39
3) 0.48 - 0.57
4) 0.70 - 0.86

I assume we may go as high as $0.86 or at least $0.50 to hit the upper orange trendline again.

That's a nice buying opportunity and we have to begin looking for a better price entry point right now.

Comment

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The price went lowe and i had to update my price ranges

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