Quick little day trade I'll be watching for today.
Things seem to be squaring up nicely for BINANCE:ADXETH to have a breakout within the next few hours here if we can maintain volume and close above ~.00167
This kind of a set up is exactly what im looking for when it comes to relatively low risk day trades!
48 EMA getting ready to test 192 EMA support for...
After a serious decline in their prices last days, ADX is recovering. When we take a look at the daily chart (not shown here) signs for a bullish market are there. MACD is close to a golden cross and also the CCI indicates a bullish signal. Meaning that the big players are preparing to bring the ADX price back to a higher level.
When we have a look at the 4h...
ADX has followed this pattern--as have many Crypto's to date--namely ETH traded Alt-coins. The pattern is best described as a tendency for cryptos to succeed in long term growth earlier than expected upon entry into markets like Bittrex--after graduating from small exchanges--IFF the Crypto in question breaks out of the initial down-trend cycle.
To illustrate...
ADX looks to be moving in a channel against ETH and is closing to support level of 0.786 fibonacci of uptrend – 0.00194 level. We may hit a double-bottom there or price may break down. There may be looking for potential RSI divergence, MACD to confirm price reversal and context with Ichimoku cloud as well to indicate potential trend change – we may have buying...
I am really curious whether this will work out. ADX has strong fundamentals. If price breaks through downward trendline and RSI, MACD confirms this can be a valid sign for a solid upward movement and completing Elliot wave 5. If price breaks down support line at 0.00225 new pattern may need to be seeked for. If upward movement develops profit may be taken at...
AdEx announced they are moving from ETH to NEO .
You do not need to care about ADX or NEO to profit off of this; just recognize that ADX pumped to 0.033 ETH off much less news days ago, and that no one knows FOMO like NEO.
This idea illustrates the use of the Trend-Based Fib Extension tool for predicting target as well as where to look for support on dips on the way up.
BINANCE
