Long

Updated

VERGE (XVG) - Looking for Fib targets? This is for you

Hi my dear friends!

This is a 6 hr chart of verge?
Why 6 hr?
Because at this time frame, we can clearly count the 3 corrective waves that is the down trend in the box.
We can also see from data that fib levels had been a rather precise ruler to estimate this coin, as I explained in the callout box.

The next fib targets are labelled in green (if you drag up on the chat)

They are:
- 2700
- 3850
- 5050
- 5850

It takes time to develop a trade. HODL it, sell when stoploss reached, and ya'll be fine :)

*This post is more for people who are already in verge trade, if you are not in the trade and would like to join, please find an entry price that is comfortable to you on your own.

Good luck!

Note

*Expected correction to 1366 (.5 fib)

Trade active

I would be surprised if it goes lower

Trade active

we are heading back up, but don't be over-optimistic. Always be ready to react to the worst case scenario!

Note

My thoughts on chart pattern

Note

This one has better proportion

Trade active

This update is for my own entertainment.
Boxes with the same colors are of similar patterns.

Note

That was an absolute bloodbath, corrected all the way down to .236

Trade active

buy zone

Trade active

Hit our buy zone.
We have ourselves a position.

Trade active

A good start is always pleasant

Note

one min chart looks fishy, reduced position size

Note

worst case scenario

Trade active

order book on bittrex:
whales keep pushing down the price with sell wall/filling their own orders at a substantially lower price.
Assuming they are trying to accumulate more of their long position. -->Don't panic sell easily and fall for the trap.

Trade active

everyone sees this pattern. It is picture perfect.
The only thing we need now is volume.

If we drop below lower trend line for some reason (its crypto, anything can happen), we go to the floor and wait to buy back there.

Note

just bounced from lower trendline.
Need to be trading above EMA50 & MA50 on longer time frame to confirm another impulse wave going up.

Note

hovering around trend line, take care.

Trade closed: stop reached

This one hit me.

Note

If we drop to 470 we buy

Note

again, 470-500 we buy

Trade active

again, again, 470-500 we buy

Note

I didn't even realize.
The low was 502.....................

My order at 500 was not filled...................................

someone514

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.

someone514