Long
Aion, new coin on Binance,still cheap and in ascending triangle
Aion is a newly tradable coin on binance and is a 3rd generation cryptocurrency with the goal of connecting dissimilar blockchain networks from non compatible cryptocurrencies.
Anyway it has just released and so there is no previous chart, many new coins appreciate in value quicky and over longer periods of time after dropping along with it seemingly being the return of altcoin season, so took the risk and picked a small bit up.
Not enough information for longer term daily ichmoku so using some traditional technical analysis ,On the shorter 2 hour time frame, it appears to be in an ascending triangle, which is a bullish pattern, breakout target of 1.61 Fibonacci extension.
If you want to trade this set up specifically,
entry- breach above ascending triangle
Target stop- 1.618 fib level
Stoploss- 10-20% below top of triangle
Anyway it has just released and so there is no previous chart, many new coins appreciate in value quicky and over longer periods of time after dropping along with it seemingly being the return of altcoin season, so took the risk and picked a small bit up.
Not enough information for longer term daily ichmoku so using some traditional technical analysis ,On the shorter 2 hour time frame, it appears to be in an ascending triangle, which is a bullish pattern, breakout target of 1.61 Fibonacci extension.
If you want to trade this set up specifically,
entry- breach above ascending triangle
Target stop- 1.618 fib level
Stoploss- 10-20% below top of triangle
Trade closed: target reached
Target Raeched and breached lol
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.