* DON'T BE AN IDiOT AND THiNK FOR YOURSELF!
* THiS iS NOT A FiNANCiAL ADVICE!
TRADE:: LINK_01_01142021
STATUS:: PLACED
TYPE:: Long
PATTERN:: Triangle Consolidation Breakout
SIGNAL:: 4H MFI (We don't have the signal yet, but looking at indicators it may occur any time soon. We have to understand that sometimes we should act faster than indicators, cause they lagg behind the price)
FILTER:: 1H OBV Detla is green, Price is above 1H 168EMA
VOLUME:: $2000
ENTRY:: $16.1585
SL:: $15.89
TP:: $25
R\R:: 32
RISK:: $40
REWARD:: $1000
PROS::
1. LINKUSD still didn't have its big move up, so based on my fib analysis we may expect at least 50% move up if not 100% or more
2. Chart gave us a nice counter-trend line, so we can place deals based on it.
3. Phoenix indicator (thanks to WyckoffMode) is pretty bullish, so we MUST be ready to trade this future move.
CONS::
1. There is a possibility for a correction of BTCUSD, that may trigger another higher low for LINKUSD aprrox to 12.1XX level.
2. LINKUSD loves to make big swings even short term, so we should be ready for a fakeout and be prepeared to REPEAT (since our stop-loss is so tight) the same deal from lower levels using the same counter-trend line.
3. 4H OBV Delta is still red and it has been for a while. A move down might take a place as i've mentioned above
4. I would risk more of my capital if the buy signal on the 4H was more clear. But right now it looks not so straight as i wish
OVERALL::
* As i mentioned in my previous publication the buy signal may occur between January 14th and Jan 16th
* We have a nice counter-trend line to work with
* Indicators are showing bullish sentiment
* A move up may occur any time soon, so we MUST be ready to trade it
* One last move down for a higher low might take a place and we should use it this opportunity (if that happpen)
* As time goes i will move my Conditional Limit Order in tact with the counter trend line. I will update the idea if my entry point changed
* THiS iS NOT A FiNANCiAL ADVICE!
TRADE:: LINK_01_01142021
STATUS:: PLACED
TYPE:: Long
PATTERN:: Triangle Consolidation Breakout
SIGNAL:: 4H MFI (We don't have the signal yet, but looking at indicators it may occur any time soon. We have to understand that sometimes we should act faster than indicators, cause they lagg behind the price)
FILTER:: 1H OBV Detla is green, Price is above 1H 168EMA
VOLUME:: $2000
ENTRY:: $16.1585
SL:: $15.89
TP:: $25
R\R:: 32
RISK:: $40
REWARD:: $1000
PROS::
1. LINKUSD still didn't have its big move up, so based on my fib analysis we may expect at least 50% move up if not 100% or more
2. Chart gave us a nice counter-trend line, so we can place deals based on it.
3. Phoenix indicator (thanks to WyckoffMode) is pretty bullish, so we MUST be ready to trade this future move.
CONS::
1. There is a possibility for a correction of BTCUSD, that may trigger another higher low for LINKUSD aprrox to 12.1XX level.
2. LINKUSD loves to make big swings even short term, so we should be ready for a fakeout and be prepeared to REPEAT (since our stop-loss is so tight) the same deal from lower levels using the same counter-trend line.
3. 4H OBV Delta is still red and it has been for a while. A move down might take a place as i've mentioned above
4. I would risk more of my capital if the buy signal on the 4H was more clear. But right now it looks not so straight as i wish
OVERALL::
* As i mentioned in my previous publication the buy signal may occur between January 14th and Jan 16th
* We have a nice counter-trend line to work with
* Indicators are showing bullish sentiment
* A move up may occur any time soon, so we MUST be ready to trade it
* One last move down for a higher low might take a place and we should use it this opportunity (if that happpen)
* As time goes i will move my Conditional Limit Order in tact with the counter trend line. I will update the idea if my entry point changed
Note
Just look at what DOTUSD made. The same might happen with LINKUSD. That's absolutely identical scenario.Note
Note
OBV Delta on the 4H became green. That increases the odds of buy volume to rise more and more allowing the price to reach a higher high. But we still waiting for a buy signal from MFINote
Moved my SL to breakeven, so i can't loose money on that trade. And it's time to find another tradesNote
Next estimated targets are: $19, $22, $25, $36Note
We've reached the top on BLUE diagonal line of this current Fib Channel. Next Stop is 25$Note
Closed a big junk of my short-term trade at $22 level. It's fine you decide to hold it till $25 or even higher, because indicators are still bullish. I am fine with that profit i already made, i'll post another publication if i see an opportunity for another short-term trade on LINKUSD.
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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.
Related publications
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.