https://www.tradingview.com/chart/wWdqh6GP/
While I was driving to work, two goals out of four were fulfilled. In general, it is a stable asset for long-term investments.
So, we have a few nuances that need to be considered before opening long-term positions:
1. A situation similar to Ethereum - volume profile in the 0.210 region during a long-term lateral movement.
2. An attept to break away from the level with a series of rising minima.
3. Reliable support in the area of 0.150
There is a long-term trading at the beginning of the 3rd wave, and we can also see the initiative buying volume here. After the exit and consolidation above the level of 0.300, the asset will begin it's long-term growth scenario.
Goals of the upward trend are:
0.220 (reached),
0.260 (reached),
0.370,
0.490-0.550
Risk / return on purchases from current levels (0.210) *:
Objectives #1 - 0.220 and #2 - 0.260 make no sense - the risk is too high. The objective #3 makes sense - 0.370 (1 part of the risk to 2.36 profits) and target number 4 - 0.490-0.550 (1 to 4.15 and 1 to 5.05)
* I recommend calculating the risk / income yourself, as the current review has the outdated risk parameters, that were calculated before the growth momentum took place.
While I was driving to work, two goals out of four were fulfilled. In general, it is a stable asset for long-term investments.
So, we have a few nuances that need to be considered before opening long-term positions:
1. A situation similar to Ethereum - volume profile in the 0.210 region during a long-term lateral movement.
2. An attept to break away from the level with a series of rising minima.
3. Reliable support in the area of 0.150
There is a long-term trading at the beginning of the 3rd wave, and we can also see the initiative buying volume here. After the exit and consolidation above the level of 0.300, the asset will begin it's long-term growth scenario.
Goals of the upward trend are:
0.220 (reached),
0.260 (reached),
0.370,
0.490-0.550
Risk / return on purchases from current levels (0.210) *:
Objectives #1 - 0.220 and #2 - 0.260 make no sense - the risk is too high. The objective #3 makes sense - 0.370 (1 part of the risk to 2.36 profits) and target number 4 - 0.490-0.550 (1 to 4.15 and 1 to 5.05)
* I recommend calculating the risk / income yourself, as the current review has the outdated risk parameters, that were calculated before the growth momentum took place.