POLONIEX:LTCBTC Is sitting right at an upward sloped support line from previous lows. In addition to this, price action has formed a loose form of a harmonic pattern . Not quite a butterfly because the "B" point did not retrace to the .786, only near the .618 fib. Besides that point, it fits within a bullish butterfly pattern with the theoretical entry point...
Trading some cryptocurrency pairs over the long holiday weekend to get my fix, what can I say... Anyway, I like this pair right now, trading on Poloniex. It's receiving around the 5th most volume in the BTC trading pairs, and looks technically interesting atm. Weekly chart posted below to get a look at that overhead downtrend resistance line, because price is at a...
GRUB Is sitting right on support for the channel it has been surfing. This has a ratio of about 37:1 in favor of risk to reward due to this. Stop loss can be set just below support line at 55.50, which only allows for a 1.65% loss before cutting out. However, if it does catch on this trend line support, it allows for the possibility of the entire run back up to...
CGC Uptrend support line is being tested as we speak. If it does not hold, there is a secondary trend line of a former resistance that may turn support right at 24 area. If looking to get in long for CGC, this is a good spot simply because you can cut losses quickly if support breaks and not lose your a**. I do like the longer term prospects of this company once...
AMZN Currently testing resistance of what I believe to be a bear flag consolidation pattern. This is a great place to get short if you want to risk a little capital, due to the ability to cut out with a small loss if it breaks above this resistance, so stop loss at 1836. If it does not break though, you get the reward of the entire move downward, which could very...
MDB As shown in linked idea on MongoDB, it was sitting at a minimum 6:1 risk/reward ratio at open Monday. If you took that trade there, which I did at open, you're currently up around 6% after one day. Has broken out of inner resistance, now headed toward outer resistance at 153 area. If it is able to convincingly break that trendline, it is very possible for...
