Happy Icy Texas Friday, Traders!
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
VERGE continues to be pushed down as the Bears continue to feast.
VERGE is now approaching the Solid Green Support Trend Line, if it gets supported by it then our expected target for a bounce would be the Resistance A and the 21MA.
Here's a view from a conservative trader... if VERGE continues to be below the 21MA and Resistance B, then there's still no long position to be initiated.
VERGE must escape the 21MA and Resistance B prior to opening a long position.
If VERGE gets pushed further down, then the next level of support will be the Blue Support Bar below.
VERGE may also be pushed further down in this Falling Wedge Pattern. This pattern could expire Mid-February 2022, meaning VERGE could traverse the path inside the Falling Wedge and continue to stay there until the pattern expires.
MACD: (IMPORTANT!) If VERGE manages to keep its level above 0.00206109 then it will maintain its Bullish Divergence against the price action.
Stoch RSI (1Wk TF): Take note that the setting on this chart for Stoch RSI is set on the 1Wk Time Frame. Stoch RSI on this chart is at the Oversold Region. It may continue to stay there indefinitely, until price action dictates its move to a bullish scenario.
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
VERGE continues to be pushed down as the Bears continue to feast.
VERGE is now approaching the Solid Green Support Trend Line, if it gets supported by it then our expected target for a bounce would be the Resistance A and the 21MA.
Here's a view from a conservative trader... if VERGE continues to be below the 21MA and Resistance B, then there's still no long position to be initiated.
VERGE must escape the 21MA and Resistance B prior to opening a long position.
If VERGE gets pushed further down, then the next level of support will be the Blue Support Bar below.
VERGE may also be pushed further down in this Falling Wedge Pattern. This pattern could expire Mid-February 2022, meaning VERGE could traverse the path inside the Falling Wedge and continue to stay there until the pattern expires.
MACD: (IMPORTANT!) If VERGE manages to keep its level above 0.00206109 then it will maintain its Bullish Divergence against the price action.
Stoch RSI (1Wk TF): Take note that the setting on this chart for Stoch RSI is set on the 1Wk Time Frame. Stoch RSI on this chart is at the Oversold Region. It may continue to stay there indefinitely, until price action dictates its move to a bullish scenario.
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader