Two potnetial entries for a long on BCHM20:
1. If price comes down to demand zone, stagger entires in the zone for a long up to 3363. Very tight stop loss as not a lot of structure under the demand zone.
2. If price breaks resistance at 3200 and trend then long to 3314
Price is pushing into the 61.8% resistance level on the daily and has found a little consolidation channel. If we can break above this channel, I'd long to the next key level (78.6% on the daily), possibly taking some profit along the way if we come into resistance earlier.
If we form market structure breaking above the channel, my stop loss will be just below the...
Pushing on the overall daily downtrend resistance line, if we break 4Hr resistance and daily downtrend see it going back to 190-200 supply zone .
If we fail to break this resistance area I'm thinking a pullback to the 150-140 zone.
Would be waiting for confirmation either way.
Thinking a move could take place tomorrow or the next and take a few days to play out.
watching price for two potential trades.
1. price is consolidating on strong daily support. Looking for price to break and retest resistance (2270) for a long entry. Stoploss below previous structure will access once placing the trade. Take 50% profit just below demand zone, watch price here to see if volume is picking up and trend looks strong, if so let the...
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...
After a strong sell off looking at this set up as a retracement-flag
Trade set up
Waiting for trade, looking for market structure too change, indicators break of trend break below support
looking for the retest of resistance as an entry.
Candlestick analysis wicks
RSI looking for peaks or divergence
Trade time would expect this trade from break retest too...
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.
Looking for entries once we break out of this resistance zone and get another touch on the trend line to confirm it is valid
We have broken out of a downtrend and we are forming new market structure
Broke out of descending channel and tested as support
10MA held as support and 50MA just crossed above the 200
I would be looking to take profit at the 3 marked...
weekly & daily up trend
strong resistance at
entry = breakout just above wicks
target = 001426
stop loss = unsure where stop loss should be.
Question; Where should stop loss be?
Entry:
Would of entered on the 61.8
Exit:
Start to see solid closes below the 61.8 fib level and i would exit
Timing:
Expecting a couple of weeks for this to play out
Using Support and resistance, MACD and EMA set to 40 to confirm my trade idea.
TP is based on previous equilibrium
Based on historical data I suspect the trade to take around 30 days to play out
