GMT BREAKOUT WITH RISING OPEN INTERESTJust a quick idea of the kind of trades I like to take. I have a strategy system implemented in python that basically what it does is scanning the market to look for the following (example using Binance Futures):
1- Price moves in a tight range for some time (hours) with rising open interest and low volume.
2- Then, the price breakouts (up or down) with increasing open interest and abnormal volume. We want to see the price breaking out with conviction, and to spend time outside of the consolidation range (it can be from 5 hours to several days)
3- Then, we can now presume that the majority of the long positions that have entered in the range are potential trapped longs and the shorts where right. The majority of the shorts that have entered in that range will also defend their position and longs might close in BE if the price returns to that zone.
So we know take an step forward and put our limit buy/sell order (limit sell if the breakout was to the down and limit buy if the breakout was upside move). We want to enter in the direction of the trend. We are not guaranteed the trade will take place, of course. But we have the probabilities to win in our favor.
If the price for some reason returns back to the initial point where the first move took place most probably it will be hardly rejected again in the direction of the initial breakout.
Important notes:
- This kind of trade require to take at least a Risk Reward Ratio of 2, 2.5 or more. If your RRR is near 1 (risk 1 to won 1) the strategy is not as profitable.
- Real breakouts takes time to form. So please, do not look for this in 5 minute time-frames. Please use at least 1H candles or more.
- The open interest for each ticker can be also added to the same chart in a new price scale. If you are seeing the ticker 'BTCUSDTPERP' (Binance Futures) the open interest will be 'BTCUSDTPERP_OI'.
If you liked it, please like and comment.
Happy Trading!
Rodrigo
GMTUSDTPERP
GMTUSDT - SETUPGMTUSDT price hit the Support zone at 0.80$ and gained an aggressive Volume and the price sustained after a few hours. Now as the price shows momentum the first hurdle will be at 1.30$ which is the strongest one. If we see a surge of volume there, it could definitely have the potential to touch 2.50$ and 3.0$.
#GMT/USDT RE_ENTRY !!Hello, dear traders welcome you to this GMT /USDT 4hr chart analysis.
I have tried my best to bring the best possible outcome in this chart.
Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys.
As we can see from the above-mentioned chart that GMT /USDT is printing an inverse head and shoulder-like pattern which can happen.
If a triangle pattern creates and retests the green zone and then we can take a long entry:-$1.50,$1.56.
GMT has a resistance zone between $2.21-$2.20 which is the longest and strong resistance zone.
and stoploss:-$1.40
If we take an entry at the neckline level of an inverse head and shoulder pattern then we can gain almost 50% to the resistance level and if it breaks the resistance then more % will add.
We will keep updating you.
Thanks for your time, we hope our work is good for you, and you are satisfied, we wish you a good day and big profits.
THANK YOU.
#GMT/USDT 4HOUR UPDATE BY CRYPTOSANDERS !!Hello, dear traders welcome you to this GMT/USDT 4hr chart analysis.
I have tried my best to bring the best possible outcome in this chart.
Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys.
As we can see from the above-mentioned chart that GMT /USDT is printing an inverse head and shoulder-like pattern which can happen.
If an inverse head and shoulder pattern creates then we can take a long entry:-$1.27,$1.42.
GMT has a resistance zone between $2.21-$2.20 which is the longest and strong resistance zone.
and stoploss:-$1.12
If we take an entry at the neckline level of an inverse head and shoulder pattern then we can gain almost 50% to the resistance level and if it breaks the resistance then more % will add.
We will keep updating you.
Thanks for your time, we hope our work is good for you, and you are satisfied, we wish you a good day and big profits.
THANK YOU.
GMT GMT GMTGMT LONG POSITION
Shark Pattern, Bounce areas are ( Use Fib retrace to measure D = C to b 1.618 to 2.24 of fib retrace)
Find where the imbalance or find some OB at the possible bouncing areas.
If you find something set an OB and wait till it bounce at that Price of Interest of yours.
Always use stop loss
Risk management
Risk only when youre confident
Don't counter trade, but if youre a pro trader well you can.
Dont chase the market price
Let the market chase your interest price.
Remember
Risk management
dont trade with your emotions
smile :P
-MercilessDolphin
GMT GMT GMT GMTGMT going down making a Cypher Pattern at Day Time Frame.
Use stop loss and trade confident
this is a swing trade
i already put a long position at the graphh so you guys dont ask anymore
all Alt coins are going down because of BTC
so there are so many signs or confirmation that gmt is bouncing at that specific area.
Thats my Price Of Interest and confirming it that itll bounce at that area
mitigating and going up
Like and follow for more
Remember Risk Management, Proper Stop Loss.
be wise.
-Merciless Dolphin
Trading opportunity on GMTUSDTBased on technical factors there is a short position in :
📊 GMTUSDT STEPN
🔴 Short Now 3.32000
🧯 Stop loss 3.75000
🏹 Target 1 2.85000
🏹 Target 2 2.37000
🏹 Target 3 1.78000
💸Capital : 1%
We hope it is profitable for you ❤️
Please support our activity with your likes👍 and comments📝
Are You Rdy GMT DOWN>?👌👌👍👍Well, now it's time to analyze the desired currency code for you and explain the reason for the decline.
First, we are witnessing a high divergence and it should take a downward trend.
Second, from the point of view of Elliott waves, it must complete its waves and take a downward trend, and the beginning of the waves is ready to work.
The third has reached the top of the ascending channel and must return.
The fourth trading volume has come down.
Your friend Manouchehr Azar