WILD has now broken the trendline downwards, which is also close to 13MA. In short term charts, I use a (5, 8, 13) Day MA, and if price can break above the 13, we look for the short term trends to do the same. Once the 5 day and 8 day trends break above 13, it means the shorter term upwards movement is now stronger than the longer term downwards movement, and you have less risk upon entering.
With trendline broken, waiting for close above, and can look at opening a Long position. The reason we wait for a close, and we dont enter right when its broken, is because a trendline can sometimes not only break, but the price can go past it for a little bit, before a strong movement pushes it the other way. We mitigate risks by waiting for the closing candlestick to affirm the position, instead of the opening price. I hope that makes sense.
With trendline broken, waiting for close above, and can look at opening a Long position. The reason we wait for a close, and we dont enter right when its broken, is because a trendline can sometimes not only break, but the price can go past it for a little bit, before a strong movement pushes it the other way. We mitigate risks by waiting for the closing candlestick to affirm the position, instead of the opening price. I hope that makes sense.
Comment:
WILD has not only broken the Trendline, but has had some powerful momentum up to the $2 range. Count on this Token to be making waves this Fall!
