MATICShowing a continuation of the down trend after a symmetrical triangle
Volume is reducing
Likely to be a day for the entry and then a further 3 days for the TP to hit.
Monitor the candle sticks and trend to confirm that the resistance line will hold and break
Mbatradingacademy
AMD Review- Broke first trend line. Now in descending wedge pattern. Candle closed below support at 61.8% FIBS level, current candle pulled back but hasn't closed yet.
- If 61.8% support does not hold, the descending wedge will continue to 78.6% FIBS support (first red circle). This area will see price action (break up or down) from descending wedge. Area also coincides with earlier trend line. Would be a good entry if we weren't having a pandemic. If it holds, wait for multiple bounces off of the trend line and signs of reversal before placing buy orders. A break and close above 61.8% resistance would be a good indicator.
- Break and close below 78.6% FIBS support and trend line would signal a 100% retrace. Wouldn't be a crazy thing to happen given the current state of the market. Possible entry position off of the 100% retrace support line. Same rules apply as entry positions off 78.6%. Wait for multiple bounces off trend line and support. Could be very dependant on how this virus plays out.
- If 100% retrace support and trend line don't hold then it will likely fall to "Pandemic support". This is a strong support with multiple bounces and coincides with a long-term trend line. Depending on the timing (how long Corona hangs around for) this would be a very attractive entry point for investors. Again, wait for reversal patterns (big candle wicks to the downside, double bottom, inverse head and shoulders, etc.) before entering trade. Unless you're feeling frisky.
LINKBTC - Long Trade (Assuming BTC behaves for a while)Link has respected the daily uptrend, broke through the downtrend with a bullish engulfing.
Large target given the volatility of btc lately.
Deemed a higher risk trade so only 0.5% of acc risk.
I Will have a trailing stop set up after each Take profit hit.
Last TP make also be set as a trailing TP depending how trade goes
BTCH20 Short to .618 FIBAs the chart has formed a rising wedge in a downtrend, I see the overall sentiment to be bearish. I have set targets for shared my targets for entry, Stoploss and Take profit targets. I have used fibs also support and resistance to choose these. Hope you enjoy.
DGDBTC - Long trade 4hr timeframeLong trade within the trend, based on my previous TA about the cup and handle, Going with the philosophy "its right until its not"
Hit the previous demand block and also stayed above daily support, long to upper trend line with TP's along the way.
Link USD Tripple top and short opportunityLinkUSD pair has formed a tripple top, with multiple points of support and resistance converging. Should there be a break in the swing low, significant downside might be expected.
BNBBTC - TA Fridays 06/03/2020Ascending triangle into this resistance zone. If we have some solid bullish candles closing above this zone, look to enter long (if the triangle breaks, start looking for potential shorts instead).
Stop loss should be below the zone in case we have a little pullback/wicks to the downside.
First take profit is at daily resistance (2460), then next target is previous high (2570).
I would exit this trade early if the purple trendline broke with bearish candles (crossing below the 30EMA would be even more confirmation to get out).
This may take a day or two to present solid entry opportunities, and the trade itself could take 3-4 days to hit my first target.
XMRBTC Daily tradeXMR pulled back to the 61.8, strong support zone.
Early exits once in profit if signs of major reversal.Eg Morning star pattern on previous high.
NEO/USDT SOS TA FRIDAYS 5/3/20Entry: bear flag forming on 4hr and daily, could be potential double top. enter now or wait for break in flag.
Exits: exit trade at bottom of flag
Timing: bear flag has been forming for a few days could take the same time to form and drop.
MATIC EW riseMATIC has commenced EW and now looking to retrace to 4 prior to moving to 5.
Looking for scaled entries around the 0.5 and 0.618 on fibs from the retrace.
Looking for a conservative exit point for the first 2 positions and then hope to let the final position ride to see how far it goes and controlled by a stop loss.
MATIC has conformed well to EW previously.
