I will update this idea when I think there is a "cleaner" opportunity to enter a long position. If you check my short term idea then you will see those time frames are looking bullish but we want a good entry using the NEAR term time frames as well to maximize profits.
Looking like we have room to run up in price over the next couple of weeks. When trading chainlink we have to be careful because it does tend to have strong swings back and forth, especially if BTC has a dip or dump.
Basic fib extension used to reach this target
It's following the plan rather well 👍 Still in line with previous TA below 👇
Overall from what I am seeing in these time frames it does NOT look like we are ready to enter a bullish trend in the mid term time frames. We are likely to trade sideways at best allowing time for the green to come out to the side and get above the white energy and the red RSI to come up above 50. At worst the green line falls with the energy and stays below it...
For now it looks like we must watch to see whether the green line comes out to the side in the 6h and if the red RSI can close above 50 in the 12h.
Reasoning is posted in the text bubbles. Note we have to be careful here due to what we see in the higher time frames (2 day)
Inside bar forming just above support. A bullish follow through from here should open up next resistance level as target (around that 13.8 area).
I have finished my very first bot that has a very peculiar strategy. My strategy isn't to maximize profit, but rather minimizing risk. I have backtested it and it has been ready since July or august so I haven't been trading because I didn't have an entry. My strategy is very simple: I long when my bot tells me to long and I exit once it tells to exit. I don't...
For now I will label this as a long position because it looks like link has more room to run up for the next 24 to 48 hours based on the 1day time frame Although we must be mindful of the 2 day time frame. This will tell us when we need to get out of our long and flip short. or whether we continue in the long position Note this is not saying to enter a trade right...
Hi, *** This is another continuation post (v2) from the previous one, as per my posting methodology where I like to link the trading story where its applicable *** Link supplied below: Just before I dig into my thoughts, Peter B gave out this tweet which said: Charts do NOT predict prices. No form of TA predicts prices. Charts suggest the path of least...
Making higher lows and just broke out of a great trendline.
Please feel free to share your view on this pair down below in the comment section. I'm more than happy to be challenged and have an interaction on this idea. Also make sure to leave a like as it helps me out a lot! ------------------------------------------------------------------------------------------
Link looks set up to dump and have another respectable rally soon after
I was watching for the market to hit 7.0 but it undershot the price and rallied, which I think is a good sign. Now we are finding support at 9.0 which was a previous inflection level. Where to next? If current candle closes near its high (bullish candle), I'd bet we would see at least a small leg up. If buyers got the strength, we should see a re-test of...
Hey friends hope you are well and welcome the new update on Chainlink DeFi token. On the daily time period chart the priceline is moving in a down channel. The price action of LINK is rejected by the resistance of channel and 100 simple moving average at the same time. The priceline is already moving below the 25, 50 and 100 SMAs and has strong support of 200...