Decent bounce from original sell off, i don't like the lack of volume, bearish pattern and the rejection off 61.8 fib level. Anticipating a move to the downside in the next few days but will wait for confirmation.
QLC Chain QLC/BTC Daily Binance Analysis QLC Ranging between 120-235 satts respecting both levels. Looking for a swing from the bottom of the current channel, to the top when the short term down trend is broken. Because QLC is such a low satt coin, position size would be very small and only 0.5% Risk on this position, if a trade presents itself. Looking for an...
Retraced to 61.8 and closed above, Currently broken out of down trend next resistance is at 0.00034128 which is just above where i'd enter. so placing a buy stop a bit above resistance 1 Take profit at 0.00036344, Last TP is a trailing TP following at -1% to catch any lucky dip pumps. RR for the trade is 2.0 expect the trade to play out by tonight, mid morning...
WEEKLY REVIEW BEFORE DONNYS MONDAY NIGHT MARKET REVIEW CALL..
ETHUSD Monday market review. Joining SOS Donny does a complete market review on Monday nights. Getting in before Donny to gauge how my knowledge is growing within the trade space.
Change in market structure 61.8 fib held Waiting for a break and retest of the current 4H resistance level for long opportunities to the daily resistance I would look to take 25% of my position off at TP's 1 and 2, with the last 50% at final TP. I'd expect this move to take from 2-5 days depending on how BTC is moving, but ENJ is known to pump quite quickly...
Might be biased towards seeing daily demand/supply blocks on LTC because I rode it halfway down. I see either a large demand block off the 8th jan candle, or a smaller demand block 2 at the 26th december 2019. They are daily blocks so I feel comfortable placing lots of weight on them. I decided to set up a longer term trade to get into an early long position,...
Notes on chart, Thanks in advance Donny
Ethereum Classic / BTC 240 Binance ETC testing the bottom of the current range, while respecting the short term down trend. As price gets squeezed here I will be watching for a potential long opportunity if we break trend and create a higher low on the retest. (If price breaks to the down side there will be no trade) Will be watching for 2 things on the break,...
I will enter this trade if price breaks out of this descending triangle with strong bullish candles (bullish engulfing, bull hammer) or if it breaks out and has a small retrace for confirmation. My first profit target is at 38.2%, then at 23.6% (resistance at both these levels). This may take a day or 2 to present a good entry, then 5-6 days to hit my first target.
If price comes down to this level i will be keeping an eye on volume and wont be entering until there is confirmation of buyers (Bullish engulfing, Bull hammer, morning star pattern). Placing a limit order in this zone seems to risky until we get the above confirmations. But could be a good swing trade if it plays out.
- Broke first trend line. Now in descending wedge pattern. Candle closed below support at 61.8% FIBS level, current candle pulled back but hasn't closed yet. - If 61.8% support does not hold, the descending wedge will continue to 78.6% FIBS support (first red circle). This area will see price action (break up or down) from descending wedge. Area also coincides...
Link has respected the daily uptrend, broke through the downtrend with a bullish engulfing. Large target given the volatility of btc lately. Deemed a higher risk trade so only 0.5% of acc risk. I Will have a trailing stop set up after each Take profit hit. Last TP make also be set as a trailing TP depending how trade goes
Long trade within the trend, based on my previous TA about the cup and handle, Going with the philosophy "its right until its not" Hit the previous demand block and also stayed above daily support, long to upper trend line with TP's along the way.