ONTBTC - Nearing breakout
Updated
Hello friends,
Its been a long time since I posted a chart. Been busy with the lessons. But lets get straight to the point.
Here we are looking at ONTBTC in a triangle being squeezed. We can see a breakout from this point if the 4H candle closes above the triangle. Set your entries respective to that.
RSI is pretty low, and DMI is pointing to the bullish direction as well. We might have a trade here. Look out for a breakout and plan your entries accordingly with a tight stop loss.
Keep in mind, the market is not stable yet, however it is starting to look better. We might see it climbing slowly back up soon this week.
Trade smartly people. I will update this trade as and when needed. Make sure to join the groups mentioned below in my signature.
Happy Trading!
Its been a long time since I posted a chart. Been busy with the lessons. But lets get straight to the point.
Here we are looking at ONTBTC in a triangle being squeezed. We can see a breakout from this point if the 4H candle closes above the triangle. Set your entries respective to that.
RSI is pretty low, and DMI is pointing to the bullish direction as well. We might have a trade here. Look out for a breakout and plan your entries accordingly with a tight stop loss.
Keep in mind, the market is not stable yet, however it is starting to look better. We might see it climbing slowly back up soon this week.
Trade smartly people. I will update this trade as and when needed. Make sure to join the groups mentioned below in my signature.
Happy Trading!
Note
Below are some resistance levels for setting your targets on the way up, if it breaks out. Remember, setting a stop loss is very very important, and I highly recommend it for this trade, since the market is still unstable.
Note
Also, if the breakout happens to the bottom of the triangle, this trade will be invalid, so better to wait for a breakout at the top of the triangle before making an entry right away. Do your own research every time before following anyone's signal blindly. Just a tip. Happy Trading!
Note
BTC is messing up our trades. We shall wait for BTC to become stable.
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discord.gg/t2RmTx7qCa
Note: This is a brand new community, so ignore the silence in there while we grow :)
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