As you can clearly see in the chart, the golden mean ratio (.886) was well respected, and resulted in a positive retracement.
In addition to the .886 being respected - the area(s) between $8.90 -> $9 which were once strong resistance in the past, were regarded as support. This has flipped the bearish sentiment, into bullish.
If you missed the entry at $9, one...
COMP is currently testing daily, golden retracement and trendline support which I suspect is going to hold considering the hidden bullish divergence signal on 4H stochrsi which usually signals continuation in a trending market. Declining sell volume on this drop in confluence with major support and hidden bullish div makes me boolish at least for the short...
Fib 0.618 holding well, no daily close below so far, triangle forming so risking a small balance either 200% or 55-60% once we break the triangle we will know
possible we will hit stop too so make sure you are OK with losing 17% of folio in return to gain 50-200%
not a financial advisor!
Triangle forming on Higher time-frame
If break & close above RED Trend line then this setup is invalid
learning Waves as well.
on smaller time-frames possible Cypher forming, that lines up with the Retracement
This will be a good one to hold for a while, looking to enter at Fibonacci retracement which lines up perfectly with possible Right shoulder forming
I am using Loose stops as I was hunted on my tight stops yesterday
This is based on weekly timeframe so let the price action develop on mentioned levels
I have also started sending Proper signal in telegram...
If the current channel breaks, then I'm looking for the head&shoulders pattern to play out.
I have a short term support area which we could bounce of short term, But then I'm looking for a buy in the Golden Buy Zone :)
Leave a like if you like this idea and please comment your thoughts!
as you can see in the chart currently it's trading inside a huge ascending Triangle, it's safe to risk a small amount here as we are at triangle support which lines up perfectly with the golden pocket of Fibonacci retracement.
Along with it on the smaller timeframe (4h) we are trading inside a falling wedge that can give us a good breakout...
Bitmex, Kraken, Bitfinex, etc. are following the CME futures moves.
When margin trading btc, use low leverage and never bother looking below the Daily chart. This entry strategy has been working all year, i'll continue to use it until it becomes unsuccessful.
Really the next major fib level on XRP is the 50% retrace at .13 cents. After that the golden pocket at 0.064 cents. All depends on BTC if it drops all the way to sub 3k this one will get wrecked.
-not financial advice just me charting my opinion
.618 retrace on the handle which has now double bottomed with Class A Bullish Divergence. Could be in for something big.
Weekly chart also has bullish divergence on the Cup Neckline.
*Not Financial Advice*