As you know I bought WRX at $1.30 according to my strategy. You can check it with following the link into description.
Now let's analyze what is going to be next. The daily candle closed above the strong supply zone 1, it can be an evidence that this long accumulation is over and WRX is going to go to the moon.
I expect short consolidation at the current price and the next impulsive move to the supply zone 2 ($2.39). In case of this resistance breakout the final two targets are $3.44 and $4.66.
When the price will go higher I will update this analysis. Please, subscribe to the channel and smash the like button to support me on mu way!
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
@niku_19jan, I am afraid of it could be the false breakout, current drop is not like the ordinary correction. I decided to wait technical bounce(if market give) and close the position, while it is in small profit.
Skyrex
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@niku_19jan, such situations makes me a hater of breakout trading. I made an exception to WRX and bought it not in the dip and now it has the worst performance in my portfolio((((
vasukikrish007
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@SkyrexTrading Im also breakout trader. In this case i trapped once again in wrx.. Exactly current drop is not a correction. It's went up due to ku coin listing news, Not with the technicals.
Skyrex
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@vasukikrish007, Wow, it's interesting, I missed it. The price usually fall gradually after the listing's pump, but after that it can pump even more. I suppose we should wait
niku_19jan
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@SkyrexTrading, yes true..we should wait. i have it in my Portfolio but for long term hold.