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Onecoin

ONE → About to Dive? Will This Ascending Wedge Play out?ONE is forming an ascending wedge after a strong bull run which usually ends in a break below the support line. Statistically, this is the more probable outcome and one we should be looking to take advantage of. How do we trade this? 🤔 We need a break below the support line *and* a retest of the support line after the break, demonstrating that support became resistance. Once we see confirmation candles testing the new resistance, its reasonable to short and place a protective stop just above the wedge support line. Shoot for a 1:2 Risk/Reward Ratio down to the $0.0111 area. It's also reasonable to take half profits at 1:1 and swing the remainder of the position to a 1:3 take profit. Move the stop loss up to entry, securing profits and increasing your trade psychology by not worrying about losing money. 💡 Trade Idea 💡 Short Entry: $0.01420 🟥 Stop Loss: $0.01570 ✅ Take Profit: $0.01120 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Ascending Wedge, Bias to Short. 2. Near Lifetime Resistance on the Weekly, Supports Short Bias. 3. 1HR RSI at 56.00, Some Up Before Down. 4. Wait for Price to Break Below Wedge and Confirm to Enter. 5. Bitcoin at Risk of Trend Change, Supports Short Bias. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Short
by TraderEngineering
ONE → OneCoin Weak at Resistance! Do we Fall or Break Through?OneCoin is struggling to continue upward at the Resistance Zone, hinting that the price wants to fall back to the EMA ribbons. Is this an opportunity to short? Or should we look for a long? How do we trade this? 🤔 The last three candles have been relatively weak bull bars, especially the last one which ended as a doji (a one-bar trading range). The current Daily candle just started a couple of hours ago but has not yet shown any signs of strength. With the crypto market being bullish, we should be looking for a long entry. We need to find the next strong support level to get a positive Risk/Reward Ratio, which appears to be around the 30EMA or 200EMA. A good strong bull signal bar followed by a confirmation bar closing on or near its high gives us enough probability of profit to take a long. Once these bars close, a long entry in the $0.01430 area with a protective stop below the 30EMA or trend support is reasonable. Set a take profit at 1:2 Risk/Reward around the $0.01550 area. It's also reasonable to take half profits at 1:1 and swing the rest until you see a sell signal, but be aware, we don't have much room up until the Resistance Zone. Until then, let's see how the price action plays out. FOMO (Fear of Missing Out) is your worst enemy. This is where you enter the market prematurely, worried that you'll miss potential profits but instead, you end up in a bad trade. I find combating FOMO is best conceptualized as "You're making more money by not falling for the seduction of market profit." 💡 Trade Idea 💡 Long Entry: $0.01430 🟥 Stop Loss: $0.01370 ✅ Take Profit: $0.01550 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Bull Macro Trend since October. Bias to Long! 2. Pin-Top Candles near Resistance Zone. 3. Still Above EMA Ribbons, Watch for Support. 4. Look for Long Entry at Daily 30EMA. 5. RSI at 64.00, above Moving Average. Wait for RSI to come down. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
2
ONE → About to Drop!? Let's Prove it and Maximize Your Profits!OneCoin (Harmony) is failing to break the bear channel resistance and after a recent sell signal, is showing the symptoms of a drop to the previous low or even lower lows. If Bitcoin fails to break its Weekly Resistance, it could add some additional pain to the entire crypto market. How do we trade this? It's reasonable to short right now . We have the sell signal at the top of the bear channel and we're two legs down, maybe trying for a third lower low. Be prepared for support at the previous low of around $0.012. If a bull signal bar closing on or near its high with a follow-through bar appears, time to get out. Also, keep an eye on Bitcoin as a market indicator. If it decides to go bull, consider altering your bias to the upside. Trade Idea Short Entry : $0.0132 Stop Loss: $0.0145 Take Profit: $0.0113 Risk/Reward Ratio: 1:2 Key Takeaways 1. Bear Channel, Bias to Short. 2. Top of Bear Channel, Bias to Short. 3. Still Above 200EMA, Watch for Support. 4. Recent Sell Bar, Reversal Indicator. 5. RSI at 47.00, below Moving Average. Supports Short Bias. You are solely responsible for your trades, trade at your own risk! If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
Short
by TraderEngineering