Long I use two time frames and momentum indicators to identify the timing of the entry.
Daily stochastic had reset and started to move to the upside. Stochastic in the higher time frame is a signal for me it is time to start looking for an entry in a direction of the indicator in the lower time frame.
I use MACD in the lower time frame. 4H MACD have crossed, is sloping upwards and now entering the bull zone. It is a good place for me to enter long.
I don’t trade with leverage. I buy spot.
The way I take profit is when 4H/Daily MACD or RSI is going to form a clear negative divergence.
DEEPUSDT
DEEP in the Game: Perfect Long Setup UnfoldingDEEP has recently shown an impressive move, surging by +65% in just one day. This is a strong sign of momentum, but now we are at an interesting stage, with price ranging within certain key levels.
Key Price Levels:
1.) Resistance at $0.276255 (Weekly Level & Fib 0.618):
DEEP has been reacting precisely to Fibonacci levels and key price zones. After reaching the 0.618 Fib retracement, it encountered strong resistance near the weekly level at $0.276255. Since then, the price has been in a pullback phase
2.) Head and Shoulders Pattern:
After the impulsive move, DEEP formed a head and shoulders pattern, which was broken to the downside. The classic pattern completion confirms a bearish bias, but the subsequent retest of the broken neckline leads us to the current range
3.) Support at $0.209732 (Fib & Liquidity Zone):
The Fib retracement 0.786 of this 5-wave impulse aligns with $0.209732, where we also see liquidity stacking up. This is an ideal support area where we might see a bounce, given the confluence of the head and shoulders target aligning here
The Fib retracement 0.618 from the larger wave is close at $0.208073, giving us even more confirmation of the importance of this region
4.) Fib Speed Fan:
Additionally, the Fib speed fan places the 0.818 level right at this support zone. This adds another layer of confidence to the idea that this could be a strong entry point for the long setup
Trade Setup:
The combination of these factors creates an ideal long setup:
Entry Range: The key levels we are looking at for entering are between $0.21 and $0.208.
Major Confluences: We have the Fib retracement 0.618 from the larger wave, head and shoulders target and Fib speed fan support all aligning here. This is not just coincidence, it's a perfect storm of technical support!
Stop Loss (SL):
Place the SL below the 0.786 level for now. This would provide a good margin to avoid unnecessary market noise, with the option to ladder your stop loss towards this 0.786 level depending on price action
Target Range:
A 2:1 risk-to-reward ratio or higher. This price point aligns with a previous key level of resistance and is an excellent target based on this setup
Confirmation:
Before executing, always look for confirmation:
Volume: Ensure there's enough volume to support the move
Candlestick Pattern: Look for a solid reversal candle at the support zone (e.g. bullish engulfing, hammer, etc.)
Order Flow: Ensure that the order flow is in favour of the long position, signaling that buyers are stepping in
Remember, trading is all about patience and confirmation. Keep an eye on volume, candlestick patterns and overall order flow before jumping in.
Let’s see how DEEP plays out.
"DEEP Breakout Alert: Ride the Bullish Wave!$DEEP/USDT Long Setup
Pattern: DEEP has broken out of a descending triangle, signaling a potential bullish move. The breakout is backed by strong upward momentum, with a retest of the breakout level providing a good entry opportunity.
Entry Range: Current price ($0.0842). Entries can be considered between $0.0800 and $0.0850.
Targets:
T1: $0.1700
T2: $0.2600
T3: $0.3390
Stop Loss (SL): Place a stop loss below the breakout level and support zone at $0.0676.
DYOR, NFA