INVERSE SHOULDER HEAD SHOULDER (REVERSAL FORMATION)
The opposite of a head and shoulders chart is the inverse head and shoulders , also called a head and shoulders bottom, is inverted with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of a security meets the following characteristics: the price...
TITLE/(DATE)-MKRUSD LONG inverse shoulder head shoulder (HODL) (7/14)
ORDER TYPE- LIMIT ORDER
ENTRY PRICE 1- $450 (MARKET)
ENTRY 2- $400 (PENDING)
STOP LOSS- $350
TAKE PROFIT 1-$550
TAKE PROFIT 2- $650
TAKE PROFIT 3- $750
TAKE PROFIT 4-$850
TAKE PROFIT 5-$1000
MakerDAO came to a critical phase, whether it will break upside or make a lower low, but my elliottwave count sees a better upside opportunity. Stochastic is also building up a bullish divergence. Let's see what will happen next.
MKR is approaching the support at the $430 mark. It's already been stopped at this support 3 times in the past and never was broken through. I´ll wait for the testing of the support and then the first candle above the SMA line.(Not financial advice, stay safe!)
I believe what's happening right now with MKR is a trend reversal not just a correction, I believe it could continue at this same pace for the next few weeks, i will update this chart as time goes on and state where I'm right and state where I'm wrong
Baised upon the time intervals and the angles I believe that a reasonable goal for MKR on July 10th is around...
Based on the wicks on the 4 hour it seems to be making a higher low indicating a change intrend. I am already long from 460 so if you are not in it yet the safest way to play this is to wait for the break of 500 and go long when you see 500 acting as support. This has potential to be a very good swing trade =). not sure what the target will be but we will continue...
MKRUSD approaching a support @ $435 and I have an alert @ $440. Once MKR is around the $440 price, I will enter a position and have my stop loss under the support line for a worst case scenario 2% loss. However, if MKR bounces off of the support like it did previously 3 times, it will net at least 10% profit In my opinion.
Havent changed this chart and as i had thought it pulled back although a little further then i initially thought. Is one of the most important protocols in cryptocurrency. Unlike 99 percent of the other shitcoins.
Inverse Head And Shoulders
The opposite of a head and shoulders chart is the inverse head and shoulders, also called a head and shoulders bottom, is inverted with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of a security meets the following characteristics: the price falls to a trough and...
MakerDAO, Lightning Labs are in World Economic Forum's list of tech pioneers for 2020
Maker is an ERC20 token that describes itself as “a utility token, governance token, and recapitalization resource of the Maker system.” The purpose of the Maker system is to manage another Ethereum token, the DAI stablecoin, that seeks to trade on exchanges at a value of exactly...
if you have been sleeping under a rock than you will not be familiar with this marvelous beauty of a token called maker. It is the flagship project of defi. If any of that doesnt ring a bell then it is time to catch up on what Defi is and what it means for the future of financing and loans. It has had a rocky start and we really saw it put to the test earlier this...
It's going to be interesting to watch what happens when it is listed on coinbase pro. The low supply of 1,005,577 MKR which doesn't even factor in potentially lost funds could cause MKR to hit all time highs or break through them with all the volume and accessibility coinbase pro brings. Not financial advice blabla just a trade based on some potentially great...