Very simple trade I did, ascending triangle forming (high lows) bought at break of 0.00232xx resistance.
0.236 Fib level acted as resistance, increased stop-loss to break even.
Rally continued, took portion out at 0.382 fib level, again increased stop-loss. So was always in a winning trade.
Took another portion out at 0.5 fib level, let the rest RUN with...
Long YFII/BTC
Elliott impulse wave, new to this trading technique.
Wave 1 found resistance at 0.236 fib level (damn that is nice), retraced and found support on previous resistance.
Decreasing volume in Wave 2
Wave 3 set to begin, watching 0.5 and 0.618 fib levels as targets.
BAND has almost hit a 51 % correction form it previous highs, similar to the previous correction.
Seen as a swing-trade opportunity, do not expect to break the major resistance 0.00134xx anytime soon, so take profits in between.
Markets are not moving too much and there needs to be more volume, however this could be a bullish indicator.
Ascending triangle, just like in the beginning of August, RSI has to break the 50 line.
Take position if it breaks out, looking for the 0.00061xx level.
Aave got nice room to grow here, with a bullish divergence pattern on RSI and Price action.
0.236 fib level could act as resistance (or 50 level on RSI), but if broken 0.00006765 would be the next target. That is where I am looking for.
Daily RSI look good aswell, where the RSI has to found support above the 50-line to continue the uptrend.
