MANA - Don't Miss This Move! 🚀Mana had a massive bullrun late last year and since them it has been correcting. We can see that we are creating some sort of an ABC move. Ideally we'd like the completion to be at the -0.27 level where we have previous structure.
Trade Idea:
- Watch for price to come back down to the -0.27 fibonacci (2.00 to 2.200)
- Enter when bullish price action appears
- Stops below that level
- Target recent highs as first target and HODL the rest
Decentraland usually has massive bursts so it's likely we will see a very quick move.
What do you guys think?
MANAUSDT
MANA - Daily Chart ✅Let's see how MANA is behaving.
This is a 1H chart. (Valid for 24 hours)
The Fib retracement shows that the price is getting rejected by the local resistance area.
The market is showing SELL volumes for MANA.
Two resistance levels push down on value, and two support levels hold the price high and show strength. The higher band can work as resistance.
The middle Bollinger Band can push up the value, and the lower band can hold the price.
If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.
The RSI shows that MANA is below the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings:
Current Market Price: $3.2132
Let me know your ideas.
Good luck.
MANAUSD gathering strengthMANAUSD is still sideways even after breakout of mini wedge pattern. I still see a slight dip towards our buy zone, which is near FIB 0.236. Will enter long at that level and hold to ride next wave upward towards TP1 (3x)and TP2 (5x). Stop loss set bottom of buy zone box in case bearish sentiments prevails in the overall crypto market.
MANAUSDT Respecting Trendline/SupportMANA has been respecting a short term upward trendline perfectly, with a horizontal supply zone directly below.
Long idea is to wait for another touch of the trendline and go long, with stop loss below support and short term target for 2.1 R trade.
This is NOT financial advice, you are responsible for your own trading decisions.
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Let me know what you think below!
Decentraland (MANA) Buy ZoneDecentraland (MANA) Buy Zone
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BIAS
Mid-Term : Bullish
Long-Term : Bullish
RISK : Medium
On its 4 hours time frames, The Decentraland graph formed a bullish patterns. We've retested our resistance and ready to break up above our current zone.
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$MANA/USDT LONG SETUP
Leverage : x3 - x5
Entry Price : 3.11 - 3.26
TP 1 : 3.31
TP 2 : 3.39
TP 3 : 3.54
TP 4 : 3.75
TP 5 : 3.89
TP 6 : 4.18
TP 7 : 4.64
TP 8 : 5.12
Stop Loss : 2.88
*Maximum 3% of Portfolio.
*Unload 12.5% at each TP. Whenever TP 2 hits, Move stop loss to entry.
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Mana 3 to 1 tradeNice and clean 3 to 1 R:R set up here after retest of breakout. Rounded bottom and close above horizontal resistance should push to next resistance level shortly with BTC looking bullish.
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Top 10 trading tips:
1. DO NOT FOMO into a trade. Let it come to you. Don’t force it.
2. Find a strategy that works for you and be consistent. Operate like a machine and less like the wind.
3. Let your winners run and cut your losers short.
4. You will not win every trade, but if you are disciplined with great RM you don't need to be right all the time to win!
5. Before you enter a trade, know your target AND your exit strategy.
6. When you are up, you can use a trailing stop or trim off some profit at a logical resistance point with a stop loss at breakeven.
7. Set your trade parameters up front so you keep your self accountable and remove emotions from the equation. (stop loss, take profit levels, etc)
8. Don't fight the trend. The trend is your friend.
9. Don’t enter a trade based on one indicator.
10. Horizontals > Diagonals
Please note:
- This is not financial advice.
- I do not take every trade I post.
- Never trade off of someone else's chart until you DYOR!