Bull flag pattern? Will the rise continue?
Updated
Congratulations to everyone who followed my trade. If you would had followed my previous trade, you should be enjoying around 40% profit.
As I wrote before, it's time to analyse the market again and start looking for a new trade.
I have drawn a Bull Flag pattern, which is the most bullish scenario that can happen for NLG/BTC. If the bull flag pattern follows through, we might see a climb towards the 800 region, possibly even testing 1000 sat.
If you are a high risk trader, I'd start to accumulate and keep a tight stoploss (like below 390-415 sat). At time of writing this would be about a 10% loss. However, the reward could be a jump into 120%.
I personally do not take this risk, I prefer to wait a little, in order to see if the bull flag persists. That's when I will quickly buy and enjoy the ride.
I'll try to keep you updated.
As I wrote before, it's time to analyse the market again and start looking for a new trade.
I have drawn a Bull Flag pattern, which is the most bullish scenario that can happen for NLG/BTC. If the bull flag pattern follows through, we might see a climb towards the 800 region, possibly even testing 1000 sat.
If you are a high risk trader, I'd start to accumulate and keep a tight stoploss (like below 390-415 sat). At time of writing this would be about a 10% loss. However, the reward could be a jump into 120%.
I personally do not take this risk, I prefer to wait a little, in order to see if the bull flag persists. That's when I will quickly buy and enjoy the ride.
I'll try to keep you updated.
Note
It didnt follow the pattern, but if you bought as written above, you should still be safe.
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