COIN 200% Upside Potential?
Updated
Interesting setup here on COIN.
My primary analysis was with the 4D, on that chart price as recaptured momentum and bias (the RDA).
So I dropped down to the daily to verify the pattern is holding and if the signals cascade down. They did.
Below is where I'll enter this trade, I might start on market open today regardless of if it gets to this zone.
Scale is done on the 60m and 5m charts on momentum and bias shifts.
SL is obvious, solid close below 34.70 cut position or take risk, scaling in more with the expectation of impulse up, then exit if follow thru does not happen.
Timeframe: who knows, but if price on D and 4D stays above RDA and momentum long there's really no reason to get out of the trade.
My primary analysis was with the 4D, on that chart price as recaptured momentum and bias (the RDA).
So I dropped down to the daily to verify the pattern is holding and if the signals cascade down. They did.
Below is where I'll enter this trade, I might start on market open today regardless of if it gets to this zone.
Scale is done on the 60m and 5m charts on momentum and bias shifts.
SL is obvious, solid close below 34.70 cut position or take risk, scaling in more with the expectation of impulse up, then exit if follow thru does not happen.
Timeframe: who knows, but if price on D and 4D stays above RDA and momentum long there's really no reason to get out of the trade.
Note
This might be a little tricky over the next few days. It's in the zone but also 60m BIAS and MOMENTUM is short. So at this point you are simply guessing.This is hard one because you don't want to dollar cost average to early. You might say, really does it matter, you said upward potential of 200%.
When you don't have the long signal on the lower time frame to get the best entry you must create a DCA plan that is probably much more expansive between buys than what you expect. Then when you get the long signal go heavier.
Or wait for the long signal.
The other challenge at this point is that zone where this might happen is wide, as seen on the chart below:
Note
3 Entries got picked up, basis is 60.14. Will add more on pullback if it appears it will be supported. Otherwise I'll wait for bias and momentum to shift to long on daily and then add on rechecks of both:Note
Added some more to COIN here today Might add more in the afternoon. Also, willing to scale lower.Trade active
Up okay on this move so far. Entry zone hit almost spot on, just had to be patient. Now let's see if momentum and bias shifts.
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