Updated
Pundi X high risk high reward trade
Hello traders,
I usually do not do high risk trading (as 1 satoshi means 4% change), but I am looking to enter swing trade Pundi X.
Looking at daily chart, we see that Pundi X is within blue ascending triangle for some time, and it is almost at the tip of this triangle. Usually we should see price action roughly around 80% from where the pattern started to the apex of the triangle (which is roughly around now). Additionally, we see that MA 20 and 50 are starting to curve upward indicating buying momentum. Moreover, Pundi X never reached to oversold region, so I would expect it to reach oversold region in next bull run.
Unfortunately I think my 23 Satoshi order will most likely not go through, so I decided to enter this market at 24 Satoshi.
The swing trade will be
Exit: 31-32 Satoshi Re-enter: 27-29 Satoshi
Exit: 43 Satoshi
Roughly about 100% profit in short to medium term.
Also, dont forget 14% air drop till end of the year!
Happy trading!
I usually do not do high risk trading (as 1 satoshi means 4% change), but I am looking to enter swing trade Pundi X.
Looking at daily chart, we see that Pundi X is within blue ascending triangle for some time, and it is almost at the tip of this triangle. Usually we should see price action roughly around 80% from where the pattern started to the apex of the triangle (which is roughly around now). Additionally, we see that MA 20 and 50 are starting to curve upward indicating buying momentum. Moreover, Pundi X never reached to oversold region, so I would expect it to reach oversold region in next bull run.
Unfortunately I think my 23 Satoshi order will most likely not go through, so I decided to enter this market at 24 Satoshi.
The swing trade will be
Exit: 31-32 Satoshi Re-enter: 27-29 Satoshi
Exit: 43 Satoshi
Roughly about 100% profit in short to medium term.
Also, dont forget 14% air drop till end of the year!
Happy trading!
Note
Now it is a decision time for Pundi X! We start to see some price action.
Perspective:
1) Bulls need to prove themselves by continuing buying pressure in next 24-72 hours. Fail to go above descending blue trendline can open the opportunity for bears.
2) In case of bull breakout, there is a confluent layer of resistance around 30-31 satoshi followed by 34-35 Satoshi. It is natural to visit resistance 1 first, find support at support 1, and find resistance at resistance 2, and find support at resistance 1.
Note
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.
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.