Long
RCN/BTC. On the edge of a cliff.
Updated
Yesterday we had a perfect rally where we anticipated both run-ups and had our perfect 2 entry and exit points for a good 46% profit. congratulations to all.
Today is a different day for RCN. RCN is in a very dangerous area now where it will decide if the rally will continue or we will see a significant retracement.
Today we have also, 2 scenarios and we will explain what to do
#1 which is most likely to happen is a significant retracement downwards.
Why? MACD suggests downward movement, RSI looks a little oversold which is not enough, Bollinger bands suggest high volatility in price action.
What to Do? I expect the 1225-1277 sat to offer a potential entry point when indicators confirm trend reversal. In this case it will be a very low risk trade with a good profit. Exit target will be 1362,1422,1498 based on capital management.
#2 less likely to happen but the rally could continue if price action managed to stay above the kumo and break the downward black trend line in the chard above. This will be a very risky trade so we will have to wait for bull confirmation above 1498 sat to enter with targets 1550,1583,1609 based on capital management. you also would have to place a stop-loss order at 1422 sat.
Best of luck to all followers and again this is a risky trade so trade what you can afford to lose.
I will keep you updated
Today is a different day for RCN. RCN is in a very dangerous area now where it will decide if the rally will continue or we will see a significant retracement.
Today we have also, 2 scenarios and we will explain what to do
#1 which is most likely to happen is a significant retracement downwards.
Why? MACD suggests downward movement, RSI looks a little oversold which is not enough, Bollinger bands suggest high volatility in price action.
What to Do? I expect the 1225-1277 sat to offer a potential entry point when indicators confirm trend reversal. In this case it will be a very low risk trade with a good profit. Exit target will be 1362,1422,1498 based on capital management.
#2 less likely to happen but the rally could continue if price action managed to stay above the kumo and break the downward black trend line in the chard above. This will be a very risky trade so we will have to wait for bull confirmation above 1498 sat to enter with targets 1550,1583,1609 based on capital management. you also would have to place a stop-loss order at 1422 sat.
Best of luck to all followers and again this is a risky trade so trade what you can afford to lose.
I will keep you updated
Note
Scenario #2 is looking to be more likely to happen.A small change regarding scenario #2.
we will buy at 1422 sat with stop loss on 1390 sat.
targets are 1498,1550,1582 using capital management.
i will update once trade is active. good luck :)
Trade active
Buy at 1422 sat with stop loss at 1390. Targets 1498,1550,1582. Goodluck
Note
Buy order couldnt be triggered. We will return to senario #1.
Trade active
we are in the buy zone. place orders upon trend reversal. (at 1226 support or 1278 resistance break)targets are 1362,1422,1498 based on capital management.
good luck.
Trade closed: target reached
Target 1 reached. congratulations to followers.People who sold at target 1 can buy at the 1226 sat supports dips.
yesterday was very difficult situation for RCN but we managed to read the patterns successfully for the best profits to come.
Note
I expect a short term further downside movement.If you are already in the trade, you are fine. breakout is close.
For those who want to buy, place your orders between 1220-1200 sat.
good luck
Trade closed: target reached
congratulations to all my followers. target 2 and 3 reached.this was a difficult trade and i'm glad that we are were led through the right path.
Please feel free to send contributions to my ETH address below that will help me find more time to keep this daily trading updates alive.
thanks to all and please feel free to post any ideas how to make these post better in the comments section.
ETH address: 0x997c06D87de76beF53581B56dBC346d0A878a6a7
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