Daily timeframe:
• Elliot waves theory
-Wave 1 completed
-Wave 2 complicated ABCDE correction and lasted 1 month
-Wave 3 huge and profitable
-Wave 4 simple correction and lasted few days
- Wave 5 is completing
• Stochastic bounces on 50 and crosses, only one bearish divergence but we are not overbought
• RSI indicates a bullish market, no clear bearish divergence
H4 timeframe:
• Adam&Eve double bottom, we tried an aggressive breakout that failed
• Cup&handle forming
• RSI breaks 60 level, so bullish momentum is ahead, we have resisted bearish divergence
• Stochastic divergence but seems to be ignored at the moment
Trade:
• Entry : 0.00008650
• TP : 0.00010650 (0.786 fib)
• SL : 0.00008453
• Ratio : 10.15
That's my analysis, do your own before taking any trade on that coin. If you trade, use the Livermore method, that is to say begin with 25% of the capital you want to put in, then if there's a breakout, add the rest.
If you have any questions, I would be pleased to answer, share your ideas that could be interesting to compare !
Have a nice sunday !
Daily timeframe :
• Elliot waves theory
-Wave 1 completed
-Wave 2 complicated ABCDE correction and lasted 1 month
-Wave 3 huge and profitable
-Wave 4 simple correction and lasted few days
- Wave 5 is completing
• Stochastic bounces on 50 and crosses, only one bearish divergence but we are not overbought
• RSI indicates a bullish market, no clear bearish divergence
H4 timeframe:
• Adam&Eve double bottom, we tried an aggressive breakout that failed
• Cup&handle forming
• RSI breaks 60 level, so bullish momentum is ahead, we have resisted bearish divergence
• Stochastic divergence but seems to be ignored at the moment
Trade:
• Entry : 0.00008650
• TP : 0.00010650 (0.786 fib)
• SL : 0.00008453
• Ratio : 10.15
That's my analysis, do your own before taking any trade on that coin. If you trade, use the Livermore method, that is to say begin with 25% of the capital you want to put in, then if there's a breakout, add the rest.
If you have any questions, I would be pleased to answer, share your ideas that could be interesting to compare !
Have a nice sunday !
Daily timeframe :