Interesting watching all of the movements and price action right now after consolidation (or whales moving the action w/ futures, etc.). One thing immediately stuck out at me and that is the price action of Verge (XVG). It is moving in a much more bullish manner than everything else, meaning it is getting there quicker than later. The long-term mean of verge points intersects with current trend at a price of .50 . We can see breakout immediately or strong resistance at the current ATH, leading out of this channel into a sideways trend, but ultimately it is my estimation that it will reach .50 sooner than later.
@poundingcode, I'm not great at fixing the chart, editing and then sharing so it comes through with clarity, but yes when I spotted this trend following the bottoming out the other night it was evident with the momentum, volume and rocket past fib levels and through the cloud that this was going back to the upper end of deviation quickly. We may not get to 50 cents in one push of momentum (and it looks like 28 cents was the end of this current move), but this is one of the next ATH levels.
poundingcode
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@futurocampeon, Thanks. I am just experimenting w/limit orders, and working out understanding how these patterns work. Where is a good source for me to better understand how this all works?
And thanks for sharing!
futurocampeon
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@poundingcode, I use a combination of methods ive learned over time, through day trading, studying trends and with my background in economics. I would start by reading some method you like at Investopedia.com They have a wealth of knowledge there. Keep it basic with something you like and see how people on YouTube use the method you choose. This is a taxing game and can be highly emotional, so when you learn you want to learn the method as well as possible and stick to it. It isn't a perfect game and mistakes commonly happen. You can only do the best with the information you have and trust the data, not the emotions.