Double Top POWR/ETH
Updated
Long-term trend is still intact. Price testing then crossed the 20 EMA . There is confluence between the RSI , MACD price action, however there is divergence in relation to the long-term trendline which remains bullish . I am waiting to see if the price action tests or breaks support at the 0.786 (0.00085436) Fib retracement level and will act accordingly.
Full disclosure - I am still learning TA - Any feedback is always appreciated - I am trading on POWR/ETH and placing orders based on my TA, however, if you do have any doubts in regards my chart, rationale and that fact that I am still learning the craft; please do not buy or sell based on my analysis alone. I would urge you to also look at more experienced members charts before making a decision.
Please note that I deleted the 1st published version of this chart because I thought I had made it private instead of public and didn't know how to change it. This TA is the exact same one. Please forgive my noobness.
Thank you for taking the time to look at my idea.
Full disclosure - I am still learning TA - Any feedback is always appreciated - I am trading on POWR/ETH and placing orders based on my TA, however, if you do have any doubts in regards my chart, rationale and that fact that I am still learning the craft; please do not buy or sell based on my analysis alone. I would urge you to also look at more experienced members charts before making a decision.
Please note that I deleted the 1st published version of this chart because I thought I had made it private instead of public and didn't know how to change it. This TA is the exact same one. Please forgive my noobness.
Thank you for taking the time to look at my idea.
Trade active
Testing 0.0786 (0.00085436)Trade active
Buy order at 0.0786 (0.00085436) fulfilledTrade active
Retraced above 0.618 (0.00087575) and is yet to test 0.5 (0.00087587) 6 EMA is crossing above 20 EMA RSI is still neutral. I am confident that the bulls will push this further. I will be interested to see in the morning if the 0.0 (000.95489) is tested again. I would love to see a breakout but I am not going to bank on it. All in all a good days trading or POWR/ETH
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