Welcome back to this week’s trading recap video. Let's take a look at the positions that closed down this week. I will explain my approach on the entry, SL, TP and management.
Binance Coin (BNBUSD) - running about +8% profit, will exit at $500
As I see it BNB is about the end of its run in terms of time. I am a fan of using fib channels to chart out large movements and to try and see when the majority of a move is done and in general around the 2 level of the Fib I would expect to see some topping behavior. On a weekly chart we could definitely see some wicking through the 2 level that could get many...
Liking the bullish price action on BNBUSD.
We see strong bullish impulse up from the price, and a larger, deeper correction was formed.
The larger correction has a few swing highs and swing lows, good indication that its a correction which we can expect bullish continuation once correction completes.
Lets wait for a bit more consolidation if it...
Price is following an ascending channel making higher highs & lows. Price has pulled back & retested previous resistance structure as new support, which has been retested as new support & aligns with the bottom of the channel. Anticipating price now to resume the uptrend & make its way to the top of the channel next.
BNB just broke and retested 400$ as support; this is a massive move as there was a lot of resistance at 400$ and BNB cleared it with ease.
This is a decisive breakout and BNB can run to 500+$; my target is 530$. The reason why BNB is pumping is alt season (ofcourse) and the coinbase IPO.
Check my last BNB post linked below (long at 250$) for more information and...
On the daily chart there is this big ass ascending triangle on which there just has happened a breakout. If we follow the Fibonnaci breakout tool, we see 2 possible targets that are around the 560 or 900 dollar level. The quarterly coin burn is also bound to happen between 16 and 23 april. Just as previous huge breakouts happened after that news, this could be a...
i learned something with time in tradining, do not touch something went up already!!, if you miss the train, you don't try to grab like mad when it pass, you wait next one.
so BNB Rushed to 350$ so quick and so strong, why ? because we have a strong FOMO on Binance Chain, less fees, Swap tokens cheapers, liquidity pools.
it have also same supplies BTC King and...
Just as expected price made a nice 30% increase after confirming breakout of trend resistance.
Previous ATH resistance was around $370 which now has flipped to support.
We can possibly see a retest at support before moving up again, but its still uncertain.