See my related idea links at the bottom of this post. Here we have a triangle pattern that makes wave iv of this wave (iii) we’re in which should finish around the 31K-34K range. We love triangle consolidations because they are dead simple to trade aren't they? Whether you’re a beginner or an expert you can trade triangles no sweat because we know exactly what's going to happen at certain price levels. Let's look at several ways you can trade this:
The safest way is to wait for a break-out above 19K. Of course this would put your profit potential of only 63% but hey, that’s not too shabby.
The next safest would be an entry above the 200MA on this 4H chart, perhaps at 16500.
The most optimal, although a bit risky, would be at 15500. Here your stop is less but you are trading below the 200MA and we might not even get there so we have an opportunity risk (pardon my FOMO)
We are right above 15000 and wrong below it, so pick your poison and lets get some gains:
Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe!
Kinashi-San
*The ideas and comments expressed herein are my personal opinions and should not be taken as financial advice. Being a trader, at any given point in time, I may or may not be holding the asset in question. This is not a recommendation to buy, sell, or hold.*
Comment
⋅
After a much needed consolidation, we have our first 1-2 minuscule waves of the first impulse wave to exit this triangle. It's time to rock!
@Kinashi_San, Hey buddy, just want to make sure, I just bought 50 ZRX at 0.00016755 BTC price on Binance. According to your TA, are you suggesting to sell those coins at 0.00031000 BTC and expecting that the price of ZRX will rise to 0.00031000 btc on around June 10th?
Kinashi_San
⋅
@cMechanics, I can't give you any financial advise but the TA does show a sell target of 31K
cMechanics
⋅
@Kinashi_San, Cool man! I know, no one on the crypto world gives financial advises. Everything they say, write or share is their personal opinion and we must Do Our Own Research. And I didn't want any FA, I just wanted a clarification. Thanks a lot for taking time to be of help. Following you already ;)