Consider this more just a journal of possibilities that I would like to come back to in the years and see how it performed.
The idea is quite simple. Simply take the 236 from ATH to local Low as your guidance for confirmation of trend change and entry.
The thing is, you don't enter on the 236.
Mark the High of the candle...
From the Local top we have hit the 236
We have since pulled back to previous structure
Looking for a 1.618 move to the upside - accumulation area during the drop to local low
TP2 would be the 200 SMA on the 4H Chart
STOP is aggressive resulting in an R:R that is not ideal so tighten up the stop under the 20 SMA and...
I was scrolling thru a watchlist and came across BAT/BTC. Chart looked interesting so i figured I'd take another trip down memory lane...
I was scrolling thru on the 4H but we might as well take a ride on the Weekly to get an idea of what this pair is up to this summer...
From a Macro perspective - this coin has...
So, looking at this Falling Wedge and grabbing a trend line off the bottom supports I noticed something.
A falling, breakout South to another falling and another breakout South.
Completing the breakout to begin another falling and staying similar to trend this could get us back into the Low 4's and mid 3's while the breakout would be in that magical 2900 zone.
Looks like this has happened a few times before now...
Top of chop on 1 is top of break on 2
bottom of chop on 1 is top of chop on 2
top of chop on 2 is top of break on 3
bottom of chop on 2 is top of chop on 3
I can see 3877 but not much higher
I pulled up the TREX listing because of the history advantage over Binance. It doesn't quite have the Volume but all these alts look pretty similar these days anyway.
Clear downtrend from December. Sideways for a few weeks and then up for three before coming down for the last 16 weeks.
Let's establish some...
#Cindicator $CND $ETH - BINANCE - S/R
The Volume died and with it began a slow and horrific bleed-out. One small glimmer of hope during the March Madness Alt-Season. Short lived.
Last weeks candle does give us a spinning top which indicates indecision, so it wasn't super bearish or bullish. ...
NEO NEO NEO.... What have you done?
Let's take a look at the Weekly.
Clear down trend from Jan 15th
The 11W Volume slump has ended
5 Weeks of sideways/narrow channel trading
BIG weekly Bearish close
After a slight double top in...
MaidSafeCoin/BTC on Polo showing a Daily and Weekly Squeeze, headed LONG with a possible confirmation candle on the Sunday July 15th close.
With a little mini breakout on this descending triangle we can hope for a pull back to roughly 5575. Now I understand that is asking a lot being that it's currently at 5879 and we are trying to confirm Long and not bust...
The weekly is squeezing on this one as well as the 1HR. The One day shows us an interesting setup for a long position as the RSI hangs in overbought, the volume dies down a bit but the price goes up for a few more days. This has recently happened twice before as I will show.
Zoomed in Daily shows us a bit more...
Looking at TRIG to confirm this Daily squeeze LONG and shoot for a 30% profit target. Taking profits at 10-20% and closing at 30% front running the downtrend line just a hair.https://www.tradingview.com/x/rhnagJWc/
Going from the ATH to 5800 was one hell of a move. Low 70's%. Coming down and testing 5200 does not seem unlikely. Coming back from 5800 to 11,700 in 14 days with a 97% retracement seems a little too fast.